Kraken Launches NFT Marketplace Without Incurring Any Gas Fees

The non-fungible token (NFT) marketplace platform from cryptocurrency exchange Kraken has unveiled a beta version that enables “gasless” transactions and an easy-to-use interface. Customers who entered the queue in May 2022 are the only ones who can now access the marketplace.

Kraken NFT started a waiting list in May. Although the marketplace was supposed to open in the summer, there were a number of delays. Learn more about the exchange in this Kraken review

During the test launch, the market would give users access to more than 70 NFT collections from the Solana and Ethereum ecosystems, a representative of the exchange stated.

Customers won’t pay any gas expenses while purchasing or selling Kraken-custodied NFTs. The NFTs will, however, be charged such costs if they are transferred on and off the exchange platform.

The NFT marketplace follows the steps of competing exchanges like Coinbase, FTX, and Binance, which have all launched markets. However, since many of these exchanges established their marketplaces last year, NFT trading volumes have decreased significantly.

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