Kraken launches gas-free NFT marketplace


Global cryptocurrency exchange Kraken has announced the launch of its non-fungible token (NFT) platform, joining exchanges such as Binance and FTX to do so.

See related article: NFT Marketplace Competition Heats Up

Fast facts

  • Sellers can list their NFTs in cryptocurrencies supported by Kraken, or in fiat currencies, such as USD, EUR, CAD, GBP and AUD.
  • Kraken said it will pay creators a portion of secondary market sales of the NFTs.
  • The crypto exchange said it will not charge gas fees at its NFT market and will list projects from multiple blockchains, including Ethereum and Solana.
  • NFT transaction fees has been a widely discussed topic this week, due to Yuga Labs’ metaverse land sale congesting the Ethereum network and spiking gas fees to exorbitant amounts.
  • After a sluggish performance in March, monthly NFT sales increased in April to over 760,000 unique buyers recording US$3.5 billion in sales volume, according to CryptoSlam data.
  • “In the future, you will be able to use NFTs to prove your ownership for anything trustlessly and that’s what we want to innovate in this space,” said Jonathon Miller, Australian managing director of Kraken, in a statement shared with Forkast.

See related article: Kraken gets Abu Dhabi nod to offer full services in MENA



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