Kraken Will Soon Launch Its NFT Marketplace

Kraken, one of the pioneers of crypto currency exchange platforms will soon launch its own NFT platform. The exchange has just opened its waiting list for a platform named Kraken NFT which has many advantages for all NFT fans!

Kraken launches into the NFT world

The year 2021 marked another milestone in the growing adoption of NFTs. OpenSea has seen strong growth, with trading volume on the platform exceeding $2 billion each month. The leader accounts for between 68% and 88% of the NFT market, a considerable figure that testifies to its near monopoly at the moment.

Also, exchange giants such as Binance, Coinbase or FTX have each launched their own platform dedicated to non-fungible tokens, to take a bite out of the lucrative NFT cake.

Kraken is entering the fray by offering to join a waiting list for Kraken NFT, which will be launched in the coming months. The exchange already has a prominent place in the crypto ecosystem ranking in the top 5 of the category on Coinmarketcap. So it’s a logical next step to diversify and attract new users.

A platform with many advantages

One of Kraken’s strong arguments lies in the absence of gas fees on the platform. Indeed, once the NFTs are listed on the platform, users will not have to pay any gas fees related to a particular blockchain. You will be able to buy an NFT on Ethereum without having to pay sometimes veryhigh fees.

Another advantage of Kraken NFT is the scarcity tool integrated to the platform. No need to go through a third party site to check the rarity of an NFT in a collection. A time saving and simplified experience for users that could make the difference in favor of this marketplace.

Late last year, Kraken CEO Jesse Powell had also stated that he wanted Kraken NFT users to be able to borrow funds using well-known and well-valued NFT collections such as Bored Ape Yacht Club or Cryptopunks. But for now, no further confirmation from Kraken. This possibility seems to be under consideration in many areas including decentralized finance, showing the growing development and interest in NFTs.

The battle of the NFT marketplace is well and truly on. Kraken has a solid reputation and considerable advantages to gain market share.

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