Kraken has launched a 'Gasless' NFT marketplace

Key points:

• Cryptocurrency exchange Kraken has launched a beta version of its platform for its non-fungible token (NFT) marketplace.
• According to the website, transactions will be “gas-free,” meaning users can buy and sell NFTs held in the Kraken ecosystem without incurring any blockchain network fees.
• Kraken said it plans to open the beta to the public “soon” after “signers on the waiting list” begin the first beta.

Cryptocurrency exchange Kraken has launched a beta version of its platform for its non-fungible token (NFT) marketplace, which features "gas-free" trading and an intuitive design. Currently, the marketplace is only open to customers who put themselves on a waitlist in May 2022.

Kraken NFT bills itself as an "all-in-one solution for exploring, managing and securing your NFT collection". The launch includes a selection of 70 of the best-selling NFTs on the Ethereum and Solana blockchains.

According to the website, transactions will be “gas-free,” meaning users can buy and sell NFTs held in the Kraken ecosystem without incurring any blockchain network fees. "This means customers can trade on the market without interruption, even during peak periods of network activity," Kraken said in a press release.

The new marketplace will also feature an NFT aggregator, allowing users to view and buy NFTs listed on other marketplaces; "creator rewards", which are returned to original content creators after each sale on the secondary market, so they "always have a fair reward for their time and effort”; the rarity value of all supported NFT collections; and the option to trade NFTs with over 200 cryptocurrencies and eight fiat currencies.

As more and more of the NFT marketplace transitions to an optional royalty model, Kraken told it is "committed to providing a balanced and fair environment for creators and collectors."

Kraken said it plans to open the beta to the public “soon” after “signers on the waiting list” begin the first beta. It added that its decision to launch an NFT marketplace underscores its belief that NFTs are “more than just a speculative asset.”

Kraken joins a growing number of NFT marketplaces that are integrating new tools like aggregators and rare trackers into their platforms to stay competitive. Last month, Rarible rolled out its Rarible 2 update, which included new aggregation tools, while Paradigm-powered NFT marketplace Blur introduced "professional" trading features such as "floor sweeping" across multiple markets and portfolios analyzing tool.