Summary:
- Crypto exchange Kraken has launched its NFT marketplace in Beta
- The NFT marketplace will be gasless
- It will also feature 70 Ethereum and Solana NFT Collections to start
The world’s sixth-largest crypto exchange in terms of daily trade volume and users has announced the launch of its new NFT marketplace. Dubbed Kraken NFT, the marketplace will initially be available to Beta testers and will initially host over 70 Ethereum and Solana-based NFT collections.
š„³ Kraken NFT Private Beta is now live!
Beta testers can explore, trade & secure NFTs on Kraken ā with zero gas fees while trading š«
š Check your email to see if you received a Beta invite or head to our blog to learn more: https://t.co/cAf5I7vLRb pic.twitter.com/vFxmPXHX6m
— Kraken NFT (@KrakenNFT) November 3, 2022
Zero Fees to Transact on Kraken NFT
One notable advantage of Kraken NFT over other marketplaces is that users do not pay any fees when transacting within it. Storage of NFTs on Kraken will also be free, including those already owned and are part of supported collections.
However, gas fees ‘will be incurred when transferring NFTs and other crypto assets on and off the Kraken platform.’
NFT Marketplaces Have Become as Necessary as Crypto Exchanges
Kraken launching an NFT marketplace follows a growing trend of crypto exchanges doing the same. At the time of writing, other exchanges such as Coinbase, Binance, and FTC have their own native NFT marketplaces. All these exchanges are now competing with or complementing services offered by NFT-centric platforms such as OpenSea, Magic Eden, and Looksrare.
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