NFT REVIEW NEWS Kraken NFT Marketplace Launches, Supports 250 NFT Collections

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 2022, 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 broadened its offerings to include low-cost collections that can be purchased for under $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 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.

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.

Finally, 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.”

Currently, Kraken supports wallets like 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 client-only drops and gas-free floor sweeping.

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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