Kraken Open Whitelist Ahead of NFT platform Launch

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Kraken Launch NFT platform

Crypto exchange Kraken has opened the waitlist for its NFT platform. This comes ahead of its planned release of its NFT platform.

Rumors of Kraken launching an NFT platform started in December last year, when a spokesperson said that the platform would begin offering NFT services in the very near future. Today, the firm made some of those services known in a blog post today. According to the post, the NFT platform will be a “complete solution for exploring, curating and securing your NFT collection.” 

NFT platform to merge trading NFTs with Kraken account

The idea is to develop a smooth integration for the trading and custody of NFTs. The platform will merge NFTs trading with users’ Kraken accounts. The aim of this is to allow traders to perform transactions with cash or crypto. Sellers can list NFTs in any of the fiat or cryptocurrencies that the platform permit and buyers can bid in their preferred currency.

Creators and users to benefit from the platform

Kraken also plans to offer Creator Earnings, which will pay artists a part of every secondary market sale price of their NFT.  The platform will also have some built-in tools to analyze and describe the rarity of individual NFTs when paired to other tokens in the same collection.

Users holding NFTs with Kraken will therefore enjoy zero gas fees for trades. This privilege is not available when transferring NFTs and crypto off the Kraken platform. The platform will permit collections from a variety of blockchains using one interface. But at its launch it will just support Ethereum and Solana at launch, with additional integrations to follow.

Kraken CEO Jesse Powell announced in December last year, that the platform would provide services to permit users get more value from their NFT collections. He proposed that Kraken would also provide NFT-collateralized loans. Today’s post did not mention those functional capabilities of NFTs. 

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