Kraken has announced the official launch of its NFT marketplace following the successful completion of its beta testing phase.
The marketplace supports over 250 non-fungible tokens (NFTs) on Ethereum, Solana, and Polygon blockchains. Initially, the platform offered support for 70 selected NFT collections hosted on Ethereum and Solana during the public beta in November.
With the official launch, Kraken promises to offer affordable supplies under $100 alongside popular projects like CryptoPunks and Bored Ape Yacht Club.
Kraken states that it won’t charge customers any gas expenses when they buy and sell NFTs on its marketplace, but there will be gas fees when they transfer NFTs and other crypto assets on and off the platform.
Users can pay with fiat currency or cryptocurrency, and listings will include rarity rankings. The exchange plans to add WalletConnect to its supported wallets, including MetaMask and Solana’s Phantom.
Kraken’s release comes when the cryptocurrency industry faces increased regulatory scrutiny. While other Crypto exchanges like Binance and OKX exited the Canadian market due to regulatory changes, Kraken remained and saw a 25% increase in user deposits. Despite trading limitations in certain US states, the crypto exchange is still accessible to US consumers.
