On Monday, FTX US announced the launch of its Marketplace for Non-Functional Token (NFT) assets. FTX explained that there will be Solana based NFTs in the market but support for Ethereum based NFTs is coming in the near future.
FTX US unveils new Solana NFT market, plans to support Ethereum in near future
West Realm Shire Services Inc., the parent company of FTX US, announced on Monday that it has launched the US-based regulated cryptocurrency exchange FTX NFT Marketplace. Market FTX will give US users the ability to mint NFT as well as transfer digital collectibles. The announcement, released on October 11, indicates that the market will initially host Solana (SOL) minted non-fungible tokens (NFT) assets. “In the near future,” FTX NFTs also plan to implement Ethereum support.
Brett Harrison, president of FTX US, explained during the announcement that the company was already “immersed in the NFT ecosystem.” “As we learn about many of these projects, we have come to a broader understanding of the needs of manufacturers and collectors in space,” Harrison said in a statement. “With the launch of this platform, we hope that users in both the United States and around the world will provide a regulated marketplace that is intuitive and responsive to their needs.”
FTX competitors join the rocking of billions in the NFT marketplace, exchange to support all Solana NFTs compliant with the Metaplex standard
The FTX NFTs marketplace will actually have a huge amount of NFT markets to compete with OPensea, Rarible, Makersplace, Nifty Gateway, Wax Atomicmarket, Aavegotchi, Foundation, Superrare.co, Hic et nunc, and many more. The NFT market, which supports both etherium and polygons, opensia itself has reached close to 10 10 billion in sales, reaching .5 8.58 billion in all-time sales. Although most of these markets support Ethereum, some of them use Polygon, Tejos, Wax, BSc and Flow.
FTX may offer some initial benefits by isolating the market by planning to enter the US Solana ecosystem. The company said in detail that it “plans to work directly with the Solana project builders to ensure true verification” and noted that bids could be made with a variety of assets, including USD, SOL or ETH. “All Solana NFTs complying with the Metplex standard will be supported on the FTX US platform,” the firm’s announcement further explains.
Harrison and FTX US believe that the non-fungible token (NFT) collectible industry has gained access to our daily lives. “The NFT ecosystem has begun to penetrate pop culture, but lacks a platform that provides easy access and exposure to mainstream audiences,” Harrison concluded.
FTX US What do you think about launching an NFT marketplace that supports Solana based NFT? Let us know what you think about this in the comments section below.
Image credit: Shutterstock, Pixabay, WikiCommons, FTX NFT Marketplace, Cyber Frog NFT Collection, Solagon NFT Collection,
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