Kraken Launches NFT Marketplace — Final Version

One of the largest cryptocurrency trading platforms, Kraken has unveiled the final version of its NFT marketplace after test-running the Beta version. The US-based crypto firm has positioned its marketplace as a comprehensive hub for buying, selling, and learning about Non-Fungible Tokens(NFTs). 

Kraken has increased its developmental rate in a bid to outrun two major crypto firms: Coinbase and Binance US. The aforementioned crypto firms are currently facing legal charges from the US Securities and Exchange Commission (SEC). SEC has continued to probe Binance’s transaction activities, forcing the firm to delist USD-related pairs and discontinue fiat transactions on the platform. Coinbase, on the other hand, has been referred to as an illicit crypto broker. 

Features of the Final Version of Kraken’s NFT Marketplace

Kraken’s final NFT marketplace features an increased NFT collection — the collection increased from 70 to 250. The increase was solely contributed by the latest inclusion of the Polygon network, a well-known blockchain in the NFT world. Kraken also houses the sought-after Reddit Collectible Avatars collection. Notably, Jesse Powell, Kraken’s co-founder has been publicly advocating for Reddit Avatars. 

The marketplace aims to support active NFT communities like CryptoPunks, Bored Ape Yacht Club, Mfers, and CrypToadz. Kraken also onboarded new, trendy collections like anime-inspired uwucrew, DigiDaigaku, and pixel-art collections —Nakamigos and Solana Monkey Business. Interestingly, a larger percentage of NFTs on Kraken cost below $100. 

Users on the Kraken ecosystem enjoy a zero-gas fee policy i.e. no fees would be charged for buying and selling on the platform. They can also buy and sell NFT without owning a Web3 cryptocurrency wallet or engaging in token wrapping. A transaction can be carried out using fiat or crypto tokens. Kraken supports over 200 different cryptocurrencies and cash options.

Kraken has announced a partnership with Williams Racing Formula 1 team, giving users the opportunity to show off their NFTs on the F1 car’s rear wing during a race.