Kraken Announces NFT Market – Crypto Briefing
Key points to remember
- Kraken today announced the opening of the waitlist for its NFT store and revealed the various features of the platform.
- In December, CEO Jesse Powell suggested that Kraken would open an NFT marketplace, but offered few details at the time.
- Kraken is one of many exchanges that have launched an NFT platform; others include Coinbase, Binance, and FTX.
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Crypto exchange Kraken announced today that it is opening the waitlist for its NFT marketplace and announced several planned features.
Kraken Opens NFT Waitlist
In a blog post today, Kraken announced its non-fungible token marketplace, which will be called Kraken NFT.
Kraken provides zero gas fees for users when NFTs flow on its own platform. However, users will have to pay gas fees if they deposit or withdraw NFTs to and from Kraken.
The company is also planning various other features, including allowing users to track the rarity scores of their NFTs and rewarding NFT creators with a portion of secondary sales.
Kraken’s NFT market will accept payments in most currencies and cryptocurrencies already accepted by the exchange. Over 120 different assets are supported, says Kraken.
Kraken will support NFTs on multiple blockchains, with both Ethereum and Solana being supported at launch. The exchange says more blockchains will be announced later at a later date.
The company didn’t reveal when its NFT marketplace will launch, but did say the waitlist opens today.
The CEO announced his plans in December
Kraken CEO Jesse Powell announced plans to open an NFT market in December, but gave few details at the time.
In the announcement, Powell cited various reasons for creating an NFT marketplace, including the appearance of Metaverse NFTs and the expected growth of the overall NFT marketplace.
Other major crypto exchanges have already launched NFT marketplaces, including Coinbase, FTX.US, Binance, and Gemini.
But although these exchanges have recently entered the competition, the OpenSea dedicated NFT market remains the largest NFT trading site. It recorded a trading volume of $3.2 billion in April.
Disclosure: At the time of writing this article, the author of this article owned BTC, ETH, and other cryptocurrencies.