Collins' 10-day contract expires next week. The Nets signed him last week as the first openly gay athlete in one of the four major North American professional sports leagues.
The seven-footer has played in two games since he signed and has one rebound and no points. He was on the floor for seven minutes in a loss to the Portland Trail Blazers on Wednesday and played 11 minutes in a win over the Los Angeles Lakers on Sunday.
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Sacramento Kings center DeMarcus Cousins has been suspended one game without pay and fined $20,000 for his actions in separate incidents.
Cousins was suspended for punching Houston Rockets guard Patrick Beverley in the stomach with 9:44 left in the first quarter of the Kings' 129-103 loss to the Houston Rockets on Tuesday.
In addition, Cousins was fined for verbally abusing a game official and failing to leave the court in a timely manner after his ejection with 8:21 left in the third quarter of the same game.
Cousins will serve his suspension on Friday when the Kings visit the Los Angeles Lakers. He leads the Kings with an average of 22.3 points, 11.5 rebounds, 1.6 steals and 1.2 blocks per game this season.
Meanwhile, the Kings and guard Jimmer Fredette have mutually agreed to a contract buyout.
Through 41 games off the bench, Fredette averaged 5.9 points, 1.1 rebounds, 1.5 assists and 11.3 minutes per game.
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The Memphis Grizzlies have claimed guard Beno Udrih off waivers.
Udrih joins Memphis with career averages of 8.9 points, 2.2 rebounds and 3.6 assists on .461 shooting in 23.3 minutes in 659 games over 10 seasons with the San Antonio Spurs, Sacramento Kings, Milwaukee Bucks, Orlando Magic and New York Knicks.
The 31-year-old averaged 5.6 points, 1.8 rebounds and 3.5 assists on .425 shooting in 19.0 minutes in 31 games with the Knicks this season before being waived on Feb. 24.
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The Los Angeles Lakers have assigned guard Xavier Henry to the Los Angeles D-Fenders.
The 6-foot-6 guard was originally selected in the first round (12th selection) of the 2010 NBA Draft by the Memphis Grizzlies. The Belgian native has appeared in 31 games this season for the Lakers, averaging 10.1 points, 2.8 rebounds and 1.2 assists in 21.8 minutes.
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The Atlanta Hawks have signed forward/center Mike Muscala to a contract.
Muscala had played the 2013-14 season with Blusens Monbus Obradoiro of the ACB League in Spain. The 6-foot-11, 230-pounder had averages of 14.6 points and a league-leading 7.8 rebounds per game through 20 games.
The Hawks also released center Dexter Pittman on Thursday.
Pittman, who was signed to a 10-day contract on Feb. 22, appeared in two games with no points.
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The Dallas Mavericks have assigned forward Jae Crowder, center Bernard James and point guard Shane Larkin to the Texas Legends of the NBA Development League.
The Mavericks also recalled guard Ricky Ledo from the Legends. Ledo most recently joined the Legends on Jan. 31 and has seen action in 27 total games with averages of 12.5 points and 5.7 rebounds.