Crypto exchange Kraken plans to launch its NFT platform ‘in the near future’, with the company saying, “NFT is a fast-moving area. And we are excited to begin offering this service in the near future,” said a Kraken spokesperson.
It’s not clear what NFT services Kraken will offer, but a spokesperson said the exchange will help carry out some NFT activities “outside the network. This allows both the mint and transaction fees to be minimized.”
Earlier this week, Kraken CEO Jesse Powell. tell Bloomberg says the exchange is “Works on the NFT platform to give investors exposure to the growing NFT market.”
Powell said the NFT sector will be bigger next year. This is due to increased activities in the metaverse including virtual land, digital clothing, and virtual club memberships.
Kraken’s move comes after rival crypto exchanges Coinbase, FTX and Binance either launched or are preparing to launch their own NFT platforms.
The NFT trading volume of these exchanges is not known to the public. As the API hasn’t been built yet, the standalone NFT market saw a significant increase in trading volume in August, where OpenSea remains the market leader.
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