Kraken’s NFT Marketplace moves out of beta with 250+ collections

Kraken’s NFT Marketplace moves out of beta with 250+ collections

Neither the author, Tim Fries, nor this website, The Tokenist, provides financial advice. Please see our website guidelines before making any financial decisions.

On June 8, Kraken NFT announced that the platform is no longer in beta. According to the press release, the full launch comes with several interesting features, including zero gas taxes, and a chance to have an NFT that you own feature on a race car.

Kraken NFT announces that it has completed beta testing

This Thursday, Kraken NFT announced its full launch. The exchange’s NFT marketplace entered beta testing in late December 2022. The full launch comes with more than 250 collections and Kraken stated that it plans to continue expanding.

In addition, the platform stated that there are no gas fees on the purchase and sale of non-fungible tokens. Furthermore, the platform allows users to pay with fiat or cryptocurrency of their choice, whichever the seller chooses when creating the listing.

Kraken also stated that the marketplace not only features collections from well-known creators, but actively pursues those who are most active in their communities. In addition, the company highlighted the fact that many of the NFTs on the platform are affordable in terms of price, as they cost less than $100.

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Kraken NFT’s launch gives users benefits of F1 partnership

In its press release, Kraken also revealed that the marketplace’s transition to the full release comes with a special benefit. Although the details of the event have not yet been revealed, users will have an opportunity to have their NFTs displayed on F1 racing cars.

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This advantage is the result of a collaboration between Kraken and the Formula 1 Williams Racing team. The merger was announced in late March as a way to offer “fans cutting-edge crypto and Web3 experiences, while allowing Kraken to reach new institutional clients and businesses”.

A similar partnership between the Red Bull Formula 1 team and Mysten Labs was unveiled on June 1. This development highlights that despite the effects of the “crypto winter” and the recent regulatory crackdown on the industry, various firms outside the industry are still very interested in the opportunities offered by web3.

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Would you be interested in having your NFT on a Formula 1 racing car? Let us know in the comments below.

About the author

Tim Fries is the co-founder of The Tokenist. He has a B. Sc. in mechanical engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate in the investment team at RW Baird’s US Private Equity division and is also a co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.

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