NFT News: Kraken Launches A Gas-Free NFT Marketplace

Kraken, a top crypto exchange has released a beta version of its gas-free NFT marketplace. Users can use the marketplace to buy and sell non-fungible tokens without incurring network fees.

iexclusivenews reports that the “complete solution for exploring, curating, and securing NFT collections” offered by the exchange will initially give users access to 70 of the most popular NFT projects built on Ethereum and Solana.

The market will also include extra features, such as an NFT aggregator that enables platform users to browse and purchase items offered on other markets.

Kraken will also support creator royalties, unlike other marketplaces that have introduced optional creator rewarding systems.

The platform does this in an effort to pay creators for their time and labor.

Also, there will be rarity scores for all supported NFT collections.

Kraken’s Marketplace Is Committed To Supporting Creators And Collectors

The exchange says in a press release that it will be collecting royalties on behalf of creators and distributing them after the identity of the collection’s creator has been confirmed.

This online news outlet understands that by collection, however, the precise percentage will change.

Kraken’s strategy will alter over time as “solutions that better serve the NFT community come up,” as the NFT market is still developing.

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As previously mentioned, those who have joined the waiting list are currently the only people who can access the NFT marketplace.

The beta will, however, be made publicly accessible by the exchange “soon after.”

After a strong performance in 2021, NFTs have fallen victim to the bear market.

However, iexclusivenews Nigeria reports that many collectors saw the value of their holdings fall to almost nothing.

Kraken’s choice to open a market for digital collections, however, demonstrates its conviction that NFTs are “more than a speculative asset.”