Kraken, a U.S. based cryptocurrency exchange, has announced the official launch of its NFT marketplace following the successful completion of its beta testing phase. According to a press release, the marketplace will support over 250 NFTs across multiple blockchains, including Ethereum, Solana, and Polygon.
In November of last year, Kraken introduced a public beta version of its NFT platform, which initially featured a carefully curated selection of 70 NFT collections on Ethereum and Solana. However, with the platform’s public launch, Kraken has pledged to broaden its offerings by not only including blue-chip projects like CryptoPunks and Bored Ape Yacht Club, but also more low-cost collections that can be purchased for under $100. New collections on the platform include uwucrew, DigiDaigaku, Nakamigos, Solana Monkey Business, and more.
“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,” the press release detailed.
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
One notable aspect of the Kraken NFT marketplace is its commitment to customer-friendly practices. Kraken has stated that it will not charge gas fees to customers who buy and sell NFTs on its platform. It is important to note, however, that gas fees will be incurred when transferring NFTs and other crypto assets on and off the Kraken platform.
Kraken has implemented various features to enhance the user experience on its NFT marketplace. Users will have the flexibility to make payments using either fiat currency or cryptocurrency. Additionally, listings on the platform will come with built-in rarity rankings, providing valuable insights for collectors and investors. Currently, Kraken supports wallets like MetaMask and Solana’s Phantom wallet, with plans to add support for WalletConnect in the future.
Kraken’s launch of its NFT marketplace comes at a time when the cryptocurrency industry is facing increased regulatory scrutiny. U.S. exchanges, for instance, are grappling with lawsuits from the U.S. Securities and Exchange Commission (SEC). Despite these challenges, Kraken aims to carve out a prominent position in the competitive NFT marketplace landscape.
Editor’s note: This article was written by an nft now staff member in collaboration with OpenAI’s GPT-4.
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