Kraken, a US-based cryptocurrency exchange, has announced the official launch of its NFT marketplace after successfully completing its beta testing phase. According to a press release, the marketplace supports more than 250 NFTs across multiple blockchains, including Ethereum, Solana, and Polygon.
In November 2022, Kraken introduced a public beta version of its NFT platform, which initially contained a carefully curated selection of 70 NFT collections on Ethereum and Solana. However, with the public launch of the platform, Kraken has expanded its offerings to include low-cost collections that can be had for less than $100. In addition to CryptoPunks and Bored Apes, users will now see uwucrew, DigiDaigaku, Nakamigos, Solana Monkey Business, and more on the platform.
“We’ve long understood that the communities behind the NFTs are often even more important than the collectibles themselves. That’s why we’ve put together many of the most active NFT collections the market has to offer,” the press release said.
We’re launching the BETA! 🎉#KrakenNFT is your gateway to buying, selling and learning about NFTs!
🔎 Browse over 250 collections
⛓️ Polygon blockchain integration
🧡 Reddit collectable avatars @0xPolygonLabs @RedditRead our latest announcement: https://t.co/3Xnn2tMyST pic.twitter.com/l1LTizqwT1
— Kraken NFT (@KrakenNFT) June 8, 2023
Kraken has implemented several features to improve the user experience on its NFT marketplace. Users have the flexibility to make payments with fiat currency or cryptocurrency. In addition, listings on the platform will come with built-in rarity rankings, providing valuable insights for collectors and investors.
Finally, Kraken has stated that it will not charge gas fees to customers who buy and sell NFTs on its platform. However, it is important to note that “gas fees are charged when transferring NFTs and other crypto assets on and off the Kraken platform.”
Currently, Kraken supports wallets such as MetaMask and Solana’s Phantom wallet, with plans to add support for WalletConnect in the future. Other future plans include the development of perks and features, including customer drop and gas-free floor sweeping.
Kraken’s launch of its NFT marketplace comes at a time when the cryptocurrency industry is facing increased regulatory oversight. For example, US stock markets are grappling with lawsuits from the US Securities and Exchange Commission (SEC). Despite these challenges, Kraken aims to take a prominent position in the competitive NFT market landscape.
Editor’s Note: This article was written by an nft now contributor in collaboration with OpenAI’s GPT-4.