Several artists have become millionaires in a short span of time and many more will earn significantly in time to come. For those who still do not know what NFTs are, you have come to the right place. NFTs are non-fungible digital assets that establish the authenticity, ownership, and uniqueness of an asset.
You could ‘mint’ assets like photographs, paintings, digital art, books, music albums, etc. Trust Kraken to jump on the bandwagon sooner rather than later.
Jesse Powell’s Take on the Metaverse Concept
Jesse Powell, the CEO of Kraken believes that games and platforms like World of Warcraft, NFT-driven Axie Infinity, and Meta (Facebook) can be considered as separate metaverses. He believes no single player will have a monopoly on the metaverse concept, as it has been in existence for many years in several shapes and forms.
In gaming worlds, for example, you can purchase in-game collectibles like skins and weapons. Other metaverse platforms will provide other provisions to use/purchase assets, be it blockchain-based or not. Companies like Microsoft and Nike have made moves in the metaverse space as well and with growing NFT popularity, the sky’s the limit. Here is how.
Blockchain-based assets like NFTs will allow users to show ownership of metaverse items and potentially move items between metaverses! This is where Kraken comes into the picture.
Kraken’s NFT Project
Kraken is planning its own NFT platform, akin to cryptocurrency exchanges like Binance, Coinbase, and FTX. In an interview with Yahoo Finance, Powell said that he was surprised by the love NFTs have received this year. Mainstream projects like NBA Top Shot, Bored Ape Yacht Club, and CryptoPunks have contributed to the sector’s success.
Powell has experience in e-commerce and art and hopes to put his experience to the test with Kraken’s upcoming NFT project. Without giving away too much, Powell said
“We’re cooking up something that we think is going to be pretty awesome, and it’ll be out – hopefully – toward the end of this year, early next year.”
Powell further said that Kraken’s target audience is the younger generation. Millennials have grown up using e-commerce platforms that show products in the digital form and playing games that use virtual clothes, gear, and avatars. Such platforms and games depict a digital representation of value.
Given the relative newness of the NFT space, all those who are interested in NFTs and are exploring metaverse platforms for the first time are potential customers as well. Now is the right time to explore NFT projects and delve into the NFT space. Follow metaverse projects like Decentraland and track the progress of Kraken to stay up to date with the latest happenings.
I recommend following Jesse Powell and Kraken on Twitter.
