The much-awaited Kraken NFT Marketplace is here. Users can now enjoy zero gas fees for trades on Kraken NFT for which the waitlist is live on its platform. Kraken on its blog mentioned that users will not have to pay any blockchain network fees for trading activity that takes place within its platform.
With this initiative, Kraken is dedicated to providing a complete solution for exploring, curating, and securing NFT collections.
Moreover, Kraken’s marketplace will feature a “rarity score” based on the “attributes and traits” that make every NFT unique. This is done to reward creators with a portion of each secondary market sale price of their NFTs.
Kraken is focusing on providing high-quality offerings of NFTs, obtained by vetting collections and creating liquidity in the marketplace. In addition, the platform will also accept cash or crypto payments, and support for Ethereum and Solana NFTs on launch.
Four months ago, Kraken’s CEO Jesse Powell announced that the crypto exchange is working on an NFT marketplace for customers who want to do more than just collect digital art. He also said that Kraken NFT users will soon be able to borrow funds against high-value NFTs as collateral.
Though the above-mentioned feature was not stated in today’s announcement, the company will launch it in the next few months. With the recent initiative, Kraken is dedicated to creating seamless integration for the trading and custody of NFTs.
The exchange is also actively working to expand its reach. Recently, Kraken became the second virtual asset platform to receive regulatory approval to operate in Abu Dhabi. The first one to do so was CZ’s Binance.