Crypto exchange Kraken to launch NFT marketplace

The company called the platform a complete solution for exploring, storing, and securing collections of non-fungible tokens

04.05.2022 - 14:55

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What’s new? The Kraken cryptocurrency exchange has announced the creation of its own NFT marketplace with no transaction fees. The company labeled the platform as the complete solution for exploring, storing, and securing NFT collections. In a press release, the exchange’s representatives invited users to sign up for a wait list for the launch of the marketplace. The launch date is not yet known.

Kraken’s press release

What else does the press release say? The platform will be integrated with the Kraken customer account. Assets on the marketplace will be able to be traded with cryptocurrencies and fiat money. The platform will also offer ranking and comparison features for non-fungible tokens based on their rarity, and NFT creators will be charged interest on the resale of assets. Users will need to pay a fee when transferring digital assets to the Kraken marketplace or withdrawing them to other platforms. Initially, the platform will support NFTs based on Ethereum and Solana. In the future, this list is promised to be expanded.

What is known about Kraken? It is a cryptocurrency exchange registered in the United States in 2011. The founder and head of the company is Jesse Powell. More than 120 digital and 7 fiat currencies are available for trading on the platform. Kraken has more than 8 million traders worldwide as customers.

What events happened before? On April 20, cryptocurrency exchange Coinbase launched a beta version of its NFT platform. The exchange positions the marketplace as a “peer-to-peer community platform” where users will be able to issue, buy and sell digital assets in the ERC-721 and ERC-1155 formats. The exact launch dates for the public version of the platform are not yet known.

Learn how to create your own NFT and choose a marketplace in GetBlock Magazine’s feature.

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