Home » Kraken launches the beta version of its NFT platform with no transaction fees

Kraken launches the beta version of its NFT platform with no transaction fees

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Kraken NFT, the non-fungible token (NFT) platform developed by the Kraken exchange, is now open for those selected to participate in the beta phase. Kraken NFT promises a number of features, including no transaction fees for NFTs circulating on the platform

Kraken launches into NFTs

Kraken, the world’s 6th largest cryptocurrency exchange platform by volume traded, has announced that its dedicated platform for non-fungible tokens (NFTs) is now open under its beta phase.

NFTs are by definition non-tradable tokens, each of which holds its own specificities through its own metadata. To know everything about NFTs, this phenomenon that is becoming increasingly popular, we invite you to read our page dedicated to non-fungible tokens.

If you have registered on the Kraken NFT waiting list and have been selected to access it, you can already access it via a link received by email.

Even though NFT platforms are now very expensive, as leaders such as OpenSea or Magic Eden (for Solana) dominate the field, Kraken promises to ensure zero transaction fees. This initiative should be enough to arouse the interest of many investors.

Indeed, the NFT market is in dire straits, stifled both by the collapse of the cryptocurrency market and by inflation and global macroeconomic instability. So any move to ease the various fees related to transactions is welcome today.

A lot of features on the agenda

Kraken NFT currently supports 70 different NFT collections, including the famous Bored Ape Yacht Club (BAYC) and its underlying collections. In addition, Kraken will host NFTs for the Ethereum blockchain as well as for the Solana (SOL) blockchain, which will overshadow the Magic Eden marketplace.

According to the press release, new collections should be added continuously. However, the platform wishes to remain discreet about future NFTs available on Kraken, but the list of supported NFTs will be updated as soon as necessary.

Overview of viewing and purchasing an NFT on Kraken NFT

Overview of viewing and purchasing an NFT on Kraken NFT

According to a Kraken spokesperson, NFT creators will be paid a royalty on works exchanged that they have authored:

A portion of the value sold on our marketplace goes back to the original content creator. This ensures that creators are always properly compensated for their time and effort. “

In addition, Kraken NFT users will be able to list or buy works with 8 different currencies, but also with more than 200 cryptocurrencies. Finally, it will be possible to view the collections listed on other platforms while enjoying the security promised by Kraken.

Please note that if you are lucky enough to take advantage of this closed beta, you will have to take care not to transfer any NFTs not supported by Kraken to the platform, or else it will disappear.

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