Kraken NFT Marketplace gains traction days after official launch

by James · June 13, 2023

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Kraken, one of the largest crypto exchanges with over 1.8 million ETH reserve storage, has dived deeper into the nascent non-fungible token sector. The crypto exchange recently launched its NFT market platform, which continues to gain traction with collectors days after its official launch.

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Kraken officially launches NFT Marketplace

Founded in 2011, Kraken is a US-based crypto exchange and one of the first Bitcoin exchanges listed on Bloomberg Terminal. In December 2022, Kraken released the beta version of its NFT marketplace, supporting over 110 NFT pools across the Ethereum and Solana networks.

Kraken officially launched its non-fungible token marketplace late last week. Since then, the new NFT market platform has continued to gain massive adoption among collectors. Based on early adopters, Kraken NFT has improved and added features.

✨ Polygon lands on #KrakenNFT — trade Reddit Collectible Avatars today!

✔️ Browse and swap 250+ collections
✔️ Zero gas fees on the platform
✔️ Polygon NFTs @0xPolygonLabs
✔️ Reddit collectible avatars @Reddit

Learn more 👉 pic.twitter.com/bBfYY7vUEL

— Kraken NFT (@KrakenNFT) 12 June 2023

Unlike other popular NFT market platforms, the Kraken NFT market platform offers zero gas fees. The new NFT marketplace only allows collectors to pay gas fees when sending NFTs to or from the platform. Kraken NFT operates off-chain, which makes it unique.

Kraken NFT Marketplace Overview

The NFT marketplace offers over 200 payment options, including USD, Bitcoin, Ethereum, and popular meme coins like Pepe and AI Doge. This integration opens up opportunities for non-crypto natives, increasing the exposure of the crypto market.

The Kraken NFT Marketplace offers a beginner-friendly experience, including a quick registration process, intuitive search tools, and a growing library of educational content, making new collectors find it somewhat inviting. The NFT marketplace allows users to pay in fiat or crypto, facilitating non-native Web3 interaction with the NFT space.

Currently, Kraken NFT has officially launched, with support for over 250 NFT collections across various chains, including Bored Ape Yacht Club NFTs and Reddit collectibles. It includes a curated and affordable collection under $100 for every user and wallet. Kraken supports NFTs hosted on Ethereum, Polygon and Solana.

Despite intense regulatory scrutiny, Kraken NFT is poised to establish itself as a competitive NFT marketplace. Kraken’s progress in the NFT space emerged a few days after rival crypto exchanges, “Binance and Coinbase”, were accused of engaging in unregistered offerings and failure to register as an exchange or broker-dealer.