Top Crypto Exchange Kraken Launches NFT Marketplace

Credit: Kraken NFT Marketplace

One of the most-trusted cryptocurrency exchanges in the world, Kraken, just announced the public beta launch of Kraken NFT— a new marketplace to discover and trade non-fungible tokens.

Kraken NFT marketplace will open with over 110 of the highest-trading volume NFT collections, and new collections will be added regularly after a comprehensive vetting process. Its NFT screen tool on CryptoWatch will also let investors track real-time NFT market data for the collections.

Kraken NFT marketplace includes:

  • Creator earnings. Creators are rewarded with a portion of sales from NFTs on the site.
  • Zero gas fees. Collectors can trade during peak network hours without paying sky-high gas fees.
  • Rarity rankings. All collections are accompanied by accurate rarity rankings to give collectors a better understanding of the digital assets they’re trading.
  • 200+ funding options. NFTs can be listed in any fiat or crypto offered on Kraken. This currently includes 8 fiat currencies and over 200 cryptocurrencies.
  • Commitment to users. 24/7 customer service 365 days a year.

Kraken’s mission is to accelerate the adoption of cryptocurrency, and according to co-founder and former CEO Jesse Powell, NFTs can do just that. Powell said that NFTs “have the potential to become the way most people start interacting with crypto.” He added that Kraken was the first major crypto exchange to “list Ether and recognize the promise of NFTS.”

The new NFT marketplace will be accessible to people just starting a collection to professional NFT flippers, with the aim of being “the most secure, accessible, and dynamic marketplace in the industry.”

Kraken will start with NFT collections built on Ethereum and Solana, though more blockchains are expected soon. The company says it has a long-term commitment to the NFT ecosystem.

Founded in 2011, Kraken is one of the world’s longest-standing digital asset platforms. It was one of the first exchanges to offer spot trading with margin, staking, parachain auctions, and index services for crypto. It was also the first crypto exchange to ever conduct a Proof-of-Reserves audit, and is committed to doing so on a regular basis.

A Myriad of New NFT Marketplaces in 2022

News that one of the important crypto exchanges in the world is releasing an NFT marketplaces is huge for the NFT community. But Kraken isn’t the only company to drop an NFT marketplace in 2022. At Rarity Sniper, we’ve covered several articles about new NFT marketplaces emerging in Web3. Here are the top stories.

Four months ago, LG Electronics launched an NFT marketplace called “LG Arts Lab.” The marketplace can be accessed directly through a Smart TV home screen, and users can browse, buy, sell, trade, and display NFTs on their TVs.

Next, the iconic British auction house Christie’s announced a new NFT marketplace that allows the house to conduct NFT auctions on the Ethereum network from start to finish. It was developed in partnership with Manifold, a smart contract development startup, Chainanalysis, a blockchain analytics firm, and Spatial, a metaverse developer company.

Lastly, Mattel, a global leader in children’s toys, launched an NFT marketplace on the Flow blockchain. The company said NFTs allowed them to transform their popular intellectual property rights into digital art. It hosted its first NFT mint on December 15th, featuring a series in the Hot Wheels set.

It’s becoming more clear that the world can have more (much more) than one NFT marketplace. But Kraken is a leading crypto exchange with over a decade in the industry, something very few companies can say. It will take time to see if the Kraken NFT marketplace will be popular with users, but given its history and reputation, we think there’s a good bet it takes off.