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Kraken NFT: Zero Gas Fees, Crypto or Cash Payments, and More

In a recent announcement, cryptocurrency exchange Kraken revealed that it would be launching its own NFT marketplace, Kraken NFT. The platform will have zero gas fees for NFT sales and transfers and support for both Ethereum and Solana NFTs. In addition, it will have a built-in rarity tool to help determine the value of different assets. This is big news for the crypto world! According to Kraken COO David Ripley, the platform will provide unique offerings, such as subsidizing Ethereum transaction costs - most notably gas fees, other proof-of-stake blockchains, and the cost of paying for transactions on Ethereum.

Explore, Curate, and Secure your Non-Fungible Tokens with Kraken NFT

With the launch of Kraken NFT, the company is excited to offer the users a one-stop-shop for all their NFT needs. From buying, selling, and transferring NFTs, to exploring the newest and most innovative projects in the space, Kraken NFT will be your go-to platform for everything NFT.

How Kraken NFT Sets Itself Apart

  1. Enjoy zero gas fees for trades on Kraken NFT: That means no matter how big or small your transaction is, you'll never have to worry about gas fees eating into your profits. For example, let's say you buy an NFT for $100. On other platforms, you might have to pay a gas fee of $0.01. With Kraken NFT, you would only pay $0.
  2. Track the rarity scores of your NFTs: The built-in rarity tool will help you keep track of the value of your NFTs over time. You'll be able to see how your NFTs compare to others in terms of rarity and find out which ones are rising in value.
  3. Pay with cash or crypto in your Kraken account: You can use the funds in your Kraken account to pay for NFTs on the platform. This includes both fiat currencies and cryptocurrencies.
  4. Collect NFTs across multiple blockchains: The platform will support NFTs from both Ethereum and Solana. This means you'll be able to collect all your favorite NFTs in one place.
  5. Protect your NFTs with industry-leading security: Kraken is one of the most secure exchanges in the world. It uses cutting-edge security features to protect your NFTs from hackers.
  6. Reward NFT creators with their cut from each resale: When you sell an NFT on Kraken NFT, the original creator will get a percentage of the sale. This helps support artists and incentivizes them to create more great content.

Kraken NFT will also offer a curated selection of the best and most innovative projects in the space, so you can be sure you're always up-to-date on the latest developments.

In December 2021, Jesse Powell, Kraken CEO, expressed that he wanted to allow Kraken NFT users to borrow funds against high-value NFTs as collateral. However, in the recent announcements, any mention of such a feature has been conspicuously absent.

Kraken NFT Creator Earnings Program

The team is excited about the launch of its Creator Earnings program, which intends to reward the creators of NFT collections with a portion of the secondary sales from each resale. This is a great way to support artists and incentivize them to continue creating new and exciting content. It may be a new concept that the marketplace has brought to the space, but it is quickly gaining traction as a way to compensate artists fairly.

Key Takeaways

The launch of Kraken NFT is a big step forward for the company and underscores its commitment to providing the best possible experience for its users. With zero gas fees, built-in rarity scores, and cash or crypto payments, Kraken NFT is setting itself apart as one of the most user-friendly platforms in the space.

However, only time will tell how successful the platform will be. It is up against some stiff competition, such as OpenSea, which has been in the game for longer and already has a large user base. Kraken will need to offer something unique and appealing to attract users away from its competitors.

Kraken NFT is already accepting registrations for their waitlist. You can sign up now to get a chance to try the Beta.

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