FTX launches the multi-platform NFT market

FTX launches the multi-platform NFT market - 20210514 FTX 1024x576FTX, a spot and cryptocurrency exchange, has announced the launch of an NFT market on its trading platform. According to information provided by CEO Sam Bankman-Fried, the marketplace will be available to both customers in the United States and other locations. The exchange is likely looking to capitalize on the popularity of these tools, which are shifting billions into specialized decentralized exchanges.

FTX debuts on the NFT market

FTX, one of the most successful derivatives exchanges in the world, has announced the launch of a new NFT marketplace integrated into its trading platform. The announcement was made by the company's CEO, San Bankman-Fried, who used Twitter to invite users to create their own NFTs. This means that the marketplace also includes a minting tool that will allow users to create their own NFTs from images and other data.

Bankman-Fried showed an NFT test coined 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 two weeks after launch. It will also contain cross-platform support, allowing the trading of different NFTs minted on the Ethereum and Solana blockchains.

NFT popularity growing

FTX is looking to capitalize on the momentum the NFT market is experiencing right now. Currently, three NFT projects have achieved more than $ 1 billion in sales: CryptoPunks, a series of collectible images, Axie Infinity, an NFT project, and Opensea, an NFT marketplace.

The proof of the NFT craze is that the NFT presented by Bankman Fried has already received 23 offers, with the highest offering $ 2.100 for the “Testing Testing 123 # 1” NFT. Since the announcement was made in the morning, hundreds of mailings have already been posted on the market. But some problems have arisen with the platform.

Bankman-Fried noted that due to a user sending spam, FTX would implement a one-time $ 500 fee to send NFTs to the platform. Some users have complained on social media about the amount of money required, stating that minting an NFT on decentralized Ethereum exchanges is cheaper than the proposed amount. After this, he backtracked and said that this could change in the future, acknowledging that FTX is working "on a pricing system that reduces spam".

What do you think of FTX offering an NFT marketplace on its trading platform? Let us know in the comments section below.