Kraken Announces the Launch of 70 Ethereum and Solana Nft Collections on New ‘Gasless’ Marketplace

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Last Updated on November 4, 2022 by Bitfinsider

Even as sales of digital collectibles continue to fall, Kraken, the world’s sixth-largest bitcoin exchange, is launching its new NFT marketplace today.

The exchange is hoping to entice current and prospective NFT collectors with the promise of gas-free transactions on Kraken—a sweet incentive likely aimed at cost-conscious buyers amid record global inflation, which, when combined with crypto’s proclivity for volatility, has left the industry in shambles.

Kraken, on the other hand, appears undeterred, with a firm representative stating, “We’re not in the business of timing markets, we’re in the business of speeding financial freedom and independence.”

According to a statement announcing the debut, the new marketplace “has been designed from the ground up to be the most safe and accessible marketplace in the non-fungible ecosystem.” The marketplace is now only available to individuals who joined the product’s waitlist in May.

It will initially host around 70 Ethereum and Solana-based NFT collections, and clients will be able to store their NFTs on Kraken for free, including any that they already own.

Kraken will attempt to distinguish itself by including features such as built-in rarity tools to assist inexperienced purchasers in determining the value of various NFTs. Before placing a bid on a digital collectible, customers will be given a score that indicates how uncommon or common the item is.

Buyers will also be able to see and purchase NFTs offered on other markets while remaining “under the full safety of Kraken’s industry-leading security framework,” according to the business.

“Kraken NFT provides the underpinning consumers need to interact with the NFT space with confidence by employing the same battle-tested infrastructure that has kept our client’s crypto assets secure over the past 11 years,” the business stated.

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