Kraken, one of the largest cryptocurrency exchanges, launched its NFT marketplace in beta mode. Users can now trade and collect 110 of the most prominent collections with zero gas fees! Earlier this month, the Kraken marketplace was only accessible to a private group of beta testers, but now everyone can officially access it. Let’s dive into what the marketplace has to offer.
About the Kraken NFT Marketplace
On December 22, the Kraken NFT marketplace launched with a curated offering of 110 of the most traded NFT collections. For now, this only consists of collections on the Ethereum and Solana blockchains. This includes collections such as BAYC, Crypto Punks, Doodles, Moonbirds, and y00ts amongst many others. The marketplace also vets all collections before they are added, and the same applies to future collections.
— Kraken NFT (@KrakenNFT) December 22, 2022
Similarly to Blur, the Kraken NFT marketplace does not contain gas fees. In other words, the marketplace is gas-free and doesn’t require you to pay an additional transaction fee when buying or trading NFTs. That said, when users transfer their NFTs to other platforms, fees will be enforced. In addition, Kraken NFT users are able to buy, sell, and trade digital assets using a single wallet when engaging with multiple blockchains.
“Kraken has always supported free and diverse expression. NFTs enable content creators to effectively monetize their unique perspectives and connect directly with like-minded audiences,” said Jesse Powell, the co-founder and CEO of Kraken.
Other key features
Furthermore, with Kraken NFT, users can easily keep track of the rarity ranking of each NFT. Thanks to the marketplace’s new rarity ranking, users can conveniently see the score at the top right of the NFT. Additionally, users can place a bid on their favourite NFTs using cash or any of the 200+ cryptocurrencies that Kraken supports. Buyers can place bids using a variety of payment methods, regardless of the currency used by the NFT’s seller. This includes popular cryptocurrency options like Bitcoin, Ethereum, Solana, Dogecoin, and more. “We believe that NFTs have the potential to become the way most people begin to interact with cryptocurrencies,” Powell said.
Moreover, the recent debate regarding creator royalties has been a controversial topic amongst the NFT community. Nevertheless, Kraken NFT has this under control. NFT creators on the marketplace will automatically receive a portion of sales revenue generated by their digital creations.
How to Start Using Kraken
Whether you are new to Kraken or have a pre-existing account, getting started with its NFT marketplace is made easy. For starters, you must sign up for a free Kraken account and verify it with the help of the exchange’s 24/7 client engagement team. Once those steps are complete, you can freely explore and interact with the marketplace how you please.