Kraken Launched NFT Marketplace with Zero Gas Fees
NFT seem to be another hot topic in the crypto space. While the trend of DeFi is ongoing so there are some other things that are also getting more attention. All though few other initiatives like move and earn and play to earn are doing well but NFT is another growing segment within the crypto world. Some leading global crypto exchanges (Binance, Coinbase, etc) have launched their NFT marketplace already and this list is growing over the period of time because some other exchanges are also trying to have their NFT marketplace.
It seems like all the leading global exchanges are going to have their NFT marketplace along with the crypto exchanges platform because probably they do not want to miss out on this. I am not sure but seems like for the exchanges NFT can be a good source to bring more traffic and revenue. The NFT segment is growing because there are so many projects coming up and even some celebrities are also part of this, which is why it is getting more attention from the investors and the creators.
Basically, this is more for the people who are art lovers including the creator and people who like to hold. The value is determined based on reality and the marketplace is also slightly different and does not work the way the coin market works.
Kracken is another global exchange that has announced the NFT marketplace and they have also started waiting as of now for the users to be part of the platform. Now since the platform is live and currently in a waiting state so it is expected that soon, they will be making it available for everyone where creators will be able to put their art form and buyers will be able to buy with ease.
Cryptocurrency exchange Kraken has opened a waitlist for its upcoming NFT marketplace. While there are plenty of non-fungible-token (NFT) marketplaces, what makes Kraken different is that it will offer gasless transactions, meaning that users won’t have to pay any gas fee for trading on the platform.
This is not the first-ever NFT trading platform as we have plenty of platforms already however this is different than others because there will be no gas-free for the trading of NFTs. This is the first kind of NFT marketplace that will be less of a transaction fee and this is something that makes it different. There is no clarity as of now that they will implement it later or it's going to be gas-less for always.
Competition is good and it also brings innovation to the place which is good for the users but this also raises a question on the operation side because how can a platform run without revenue generation. Probably exchange must have thought about it and but to start with this new concept is really cool and it may also increase the NFT trading volume and get more users to the Kraken NFT portal.
Thank you.
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