FTX, a spot and cryptocurrency exchange, announced the launch of
an NFT marketplace on its trading platform today. According to the
information provided by CEO Sam Bankman-Fried, the marketplace will be
available both for customers in the U.S. and in other locations. FTX is
likely trying to capitalize on the popularity of these instruments,
which are moving billions in specialized decentralized exchanges.
FTX Launches Cross-Platform NFT Marketplace
FTX,
a spot and cryptocurrency exchange, announced the launch of an NFT
marketplace on its trading platform today. According to the information
provided by CEO Sam Bankman-Fried, the marketplace will be available
both for customers in the U.S. and in other locations. FTX is likely
trying to capitalize on the popularity of these instruments, which are
moving billions in specialized decentralized exchanges.
FTX Debuts NFT Marketplace
FTX, one of the most successful derivatives exchanges, has announced
today the launch of a new NFT marketplace embedded in its trading
platform. The announcement was made by the company’s CEO, San
Bankman-Fried, who took to Twitter
to invite users to make their own NFTs. This means the marketplace also
includes a minting tool that will let users create their own NFTs from
images and other data.
Bankman-Fried showed a test NFT minted on the platform — an image
with the word “test” scribbled on a white background. Bankman-Fried
announced that the marketplace will allow deposits and withdrawals in
the next couple of weeks following launch. It will also feature
cross-platform support, allowing trading of different NFTs minted on the
Ethereum and Solana blockchains.
NFT Popularity Growing
FTX is trying to capitalize on the momentum that the NFT market is experiencing right now. Currently, three NFT projects have reached
more than $1 billion in sales: CryptoPunks, a collectible series of
images, Axie Infinity, an NFT project, and Opensea, an NFT marketplace.
Proof of the NFT mania is that the NFT submitted by Bankman Fried has already received
23 bids, with the highest one offering $2,100 for the “Testing Testing
123 #1” NFT. Since the announcement was made in the morning, hundreds of
submissions have already been posted in the marketplace. But some
problems have arisen with the platform.
Bankman-Fried noted that due to spammy submission from a user, FTX would implement
a one-time $500 fee to submit NFTs to the platform. Some users
complained on social media about the amount of money required, stating
that minting an NFT on Ethereum decentralized exchanges is cheaper than
the proposed sum. After this, he backpedaled and stated this might
change in the future, acknowledging FTX is working “on a pricing system that reduces spam.”
source link: https://news.bitcoin.com/ftx-launches-cross-platform-nft-marketplace/
