Users will not be charged any gas costs for trading NFTs catered by Kraken on the exchange, according to the platform.
After more than four months, a waiting list for Kraken’s nonfungible token, or NFT, marketplace has finally been opened. Jesse Powell, the firm’s CEO, announced the opportunity in May.
Kraken has announced on its blog that it has started a waitlist for its marketplace, which will allow customers to buy and sell NFTs while also uti
lizing tokens as collateral for loans.
Users will not be charged any gas fees when trading NFTs that are kept on Kraken, according to the exchange. Only transferring tokens and NFTs off the platform incurs gas expenses.
Also, in the near future, NFT creators will be able to earn a “rarity score” based on the “traits and qualities that distinguish every NFT.
A Kraken representative said that users will be able to have “peace of mind and assurance” by using the NFT marketplace’s security. The exchange also stated that it intended to set itself apart with a “high quality offering” of NFTs, which it would get by vetting collections and creating adequate liquidity in the market.
Kraken is one of a few cryptocurrency exchanges that has tried to enter the NFT market. In April, Coinbase launched its NFT marketplace, which is focused on social interaction and has over 8.4 million email addresses on the waiting list.
In June 2021, the firm UNIFOX and its United States affiliate launched a marketplace that allows users to exchange NFTs across blockchains, with Binance announcing an NFT marketplace in September 2021.
