Kraken Nft Marketplace
- Kraken has announced the official launch of its NFT marketplace after completing the beta testing phase.
- The marketplace will enable the trading of over 250 non-fungible tokens (NFTs) across multiple blockchain networks.
The U.S.-based cryptocurrency exchange, Kraken, has announced the official launch of its NFT marketplace after completing the beta testing phase. The company is adding itself to the extensive roster of crypto exchanges, such as Binance, Coinbase, Crypto.com, and Bybit, that have actively broadened their ecosystems to encompass non-fungible tokens (NFTs).
According to an official statement, the marketplace will enable the trading of over 250 non-fungible tokens (NFTs) across multiple blockchain networks, including Ethereum, Solana, and Polygon.
In November 2022, Kraken introduced a public beta version of its NFT platform, featuring an initial selection of 70 NFT collections on Ethereum and Solana, carefully curated. However, with the platform’s public launch, Kraken has expanded its offerings to include low-cost collections that users can purchase for under $100. The platform now includes uwucrew, DigiDaigaku, Nakamigos, Solana Monkey Business, and more, alongside CryptoPunks and Bored Apes.
The marketplace facilitated NFT collections from Ethereum and Solana blockchains throughout the beta phase. However, with the official launch, the marketplace has broadened its selection to include digital collectibles from Polygon. This expansion encompasses highly sought-after items like the “red-hot Reddit collectible avatars.”
We are launching out of BETA! ?#KrakenNFT is your gateway to buying, selling & learning about NFTs!
? Browse 250+ collections
⛓️ Polygon blockchain Integration
? Reddit Collectible Avatars @0xPolygonLabs @RedditRead our latest announcement: https://t.co/3Xnn2tMyST pic.twitter.com/l1LTizqwT1
— Kraken NFT (@KrakenNFT) June 8, 2023
Kraken said in a press release,
We’ve long understood that the communities behind the NFTs are often even more significant than the collectibles themselves. That’s why we’ve been curating many of the most active NFT collections the market has to offer.
Kraken has incorporated several features into its NFT marketplace to improve the user experience. Users can now choose to make payments using either fiat currency or cryptocurrency. Furthermore, the platform includes built-in rarity rankings for listings, offering valuable insights for collectors and investors.
Finally, Kraken has announced that it will waive gas fees for customers engaging in NFT transactions on its platform. It is crucial to note that “gas fees will be incurred when transferring NFTs and other crypto assets on and off the Kraken platform.” Currently, Kraken provides support for wallets such as MetaMask and Solana’s Phantom wallet, and it intends to incorporate support for WalletConnect in the coming times.
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Further plans encompass the creation of benefits and functionalities, such as exclusive drops for clients and the ability to sweep floors without incurring gas fees. Kraken’s introduction of its NFT marketplace coincides with heightened regulatory scrutiny in the cryptocurrency industry. U.S. exchanges, in particular, are currently contending with lawsuits initiated by the U.S. Securities and Exchange Commission (SEC).
Additionally, Canada has recently implemented tighter regulations within its regulatory framework for digital asset trading. Nevertheless, Kraken strives to establish a prominent position within the fiercely competitive NFT marketplace landscape despite these challenges.
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