Battle for best NFT marketplace rages on
Kraken, a world-renowned cryptocurrency exchange, is opening its own marketplace for non-fungible tokens (NFTs) today. This new marketplace is seen as a way to entice current and would-be NFT collectors with the promise of gas-less transactions on Kraken.
The exchange is hoping that this incentive will be enough to convince buyers amid record worldwide inflation, which, coupled with crypto’s penchant for volatility, has left the industry in tatters. However, Kraken is not daunted by this and believes that NFTs are here to stay.
The new marketplace has been designed from the ground up and is set up to be the most secure and accessible. The marketplace is only available to those that joined the waitlist back in May.
The initial opening of the marketplace will see 70 Ethereum and Solana NFT collections. Customers will be able to store their assets at no extra cost on Kraken.
Kraken is taking on the likes of OpenSea and Magic Eden, two giants in the NFT marketplace ecosystem. But with its low transaction fees, wide variety of assets, and gas-less transactions, Kraken is looking to make a big splash in the world of NFTs. Kraken also has a very staunch competitor in LooksRare.
Kraken will hope to differentiate itself from other platforms by providing features like built-in rarity tools. This will help novice buyers evaluate the worth of various NFTs before they make a bid. The company spokesperson added that Kraken’s stringent security protocols will help clients use Kraken NFT “with complete peace of mind, without fear of their crypto wealth being compromised.”
Customers will be able to view and purchase NFTs that are not listed on Kraken as well while still falling “under the full protection of Kraken’s industry-leading security framework” thus allowing for users to comfortably trade on their platform.
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