Top crypto exchange Kraken launches a beta version of its gasless NFT marketplace. The marketplace allows users to buy and sell non-fungible tokens without incurring network fees.
Initially, users will have access to 70 top-selling NFT projects based on Ethereum and Solana using the exchange’s “complete solution for exploring, curating, and securing NFT collections.”
Furthermore, the marketplace will have additional features, such as an NFT aggregator that allows platform users to view and buy items listed on other marketplaces.
And unlike other marketplaces that have introduced optional creator rewarding systems, Kraken will support creator royalties. By doing this, the platform aims to compensate creators for their time and efforts.
Also, there will be rarity scores for all supported NFT collections.
Kraken’s Marketplace Is Committed To Supporting Creators And Collectors
In a statement made through a press release, the exchange states that it will be collecting royalties on behalf of creators and distributing them once the collection’s creator has been verified. But the exact percentage will vary by collection.
And since the NFT marketplace is still evolving, Kraken’s approach will change with time as “solutions that better serve the NFT community come up.”
As mentioned earlier, the NFT marketplace is only accessible to those who have signed up on the waiting list for now. However, the exchange plans to open up the beta to the public “soon after.”
After an impressive run in 2021, NFTs have succumbed to the bear market. Many collectors witnessed the value of their collections plummet to almost zero. However, Kraken’s decision to launch a marketplace for digital collections highlights its belief that NFTs are “more than a speculative asset.”