Kraken’s CEO Announces Plans To Introduce The Exchange's Native NFT Marketplace

Popular cryptocurrency exchange Kraken is about to launch a new marketplace for Non-Fungible Tokens (NFTs). The exchange’s CEO announced this during a recent interview.

Kraken Plans to Go NFT

This year has been a very eventful one for the crypto industry. Not only did it see the continuing DeFi development, but it also saw the rise of two new trends — NFTs and Metaverse.

While the Metaverse is likely going to be the star of 2022, the NFTs have dominated 2021. Now, even though the year is coming to its end, the trend remains as strong as ever, which is quite clear from the fact that major platforms are still announcing their decisions to enter the NFT space.

The most recent example of this is Kraken. Jesse Powell, the CEO of Kraken, has recently announced that his exchange is planning to introduce support for NFTs as well as launch a full NFT marketplace.

Powell disclosed this during a Tuesday interview with Emily Chang from Bloomberg. He also pointed out how much activity the NFTs have seen, especially when it comes to various metaverses. Companies such as The Sandbox and Meta have seen great success in creating virtual worlds, offering land parcels, proof-of-membership tokens, and even such things as digital clothing. In Powell’s opinion, this trend will keep growing and Kraken should be one of its leaders.

Crypto Exchanges are Massively Entering the NFT Sector

Kraken has been aware of the NFT sector’s popularity for quite a while. Back in September, it has noted that NFTs were responsible for nearly 50% of all gas that was getting burnt on Ethereum.

Many other exchanges previously took advantage of the NFT trading, too. FTX, for example, already has its own NFT marketplace, launched back in October. Since then, it expanded to include support for Ethereum NFTs earlier this month. Then, there is Binance, which started riding the trend back in June. The exchange already has half a year in the NFT sector behind, and it doesn’t seem to be regretting this decision.

Even the US Coinbase, which is quite well-known for carefully thinking through every decision and chicking with the regulators before it makes a move, announced the upcoming launch of an NFT marketplace. Since it first started whitelisting users in October of this year, more than 1.5 million people decided to enroll.

With that said, it is no surprise that Kraken is in the rush to join up too, and once it does, it will be one of the largest crypto platforms in the world to launch the NFT marketplace.

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