Officially launched “Kraken NFT”
Major US crypto asset (virtual currency) exchange Kraken announced on the 8th that it has officially launched its own electronic market for NFTs (non-fungible tokens).
We are launching out of BETA! 🎉#KrakenNFT is your gateway to buying, selling & learning about NFTs!
Read our latest announcement: https://t.co/3Xnn2tMyST pic.twitter.com/l1LTizqwT1
—Kraken NFT (@KrakenNFT) June 8, 2023
Until now, it was provided in beta, but with the official launch, the number of NFT collections handled has been expanded from 70 to more than 250. Also, until now, it supported Ethereum (ETH) and Solana (SOL), but added support for Polygon (MATIC) blockchain.
It is appealing that it is now possible to access the NFT “Reddit Collectible Avatars” on Polygon Chain.
connection: Reddit implements NFT avatar 3rd generation contracts with polygons
What are NFTs?
Abbreviation for “Non-Fungible Token”, a digital token that cannot be replaced and has a unique value. In addition to being used for exchanging “digital items” in blockchain games, it is also an epoch-making way for rights holders (creators) in the “secondary distribution market”, which was difficult to achieve with second-hand sales, as well as proof of ownership of high-priced art works. It is also attracting attention as a means of reduction.
Features of “Kraken NFT”
Kraken says that the gas fee (transaction fee) for buying and selling on “Kraken NFT” is free, and cash is also accepted for settlement. A fee is required to transfer digital assets on and off the platform.
Users can start using “Kraken NFT” without preparing a virtual currency wallet. Sellers can choose between cash and various cryptocurrencies when listing NFTs, and buyers have more than 200 cryptocurrency brands and cash options for payment.
Kraken explained that many NFTs are available at affordable prices.
Kraken NFT breaks the myth that NFTs are only for wealthy collectors. Kraken NFTs currently list hundreds of NFTs available for under $100.
In addition, to commemorate the official release of the NFT market, it is expected to carry out a campaign in partnership with the F1 team “Williams Racing”.
Kraken NFT users will be given the chance to mount the NFT on the rear wing of Williams Racing’s F1 car during this year’s race. Details on this will be announced later.
‘Blur’ is the largest trading volume
Various companies have entered the NFT market, and competition between marketplaces is intensifying.
According to DappRadar, upstart Blur has now overtaken the previous largest, OpenSea, in terms of trading volume. In the past 30 days, Blur’s trading volume has reached about 61.3 billion yen (about $440 million). On the other hand, OpenSea’s trading volume during the same period was approximately 25.1 billion yen (approximately $180 million).
Blur is booming thanks to its royalty free and novel approaches like airdrop campaigns.
connection: NFT electronic market “Blur” for professional traders, P2P unlimited loan service started
What is airdrop
Free distribution of virtual currency (tokens). There are many cases where the purpose is marketing, such as raising awareness of virtual currency. Airdrops may also occur when the blockchain hard forks and a new virtual currency is born.