FTX US Launches NFT Market – Users Can Trade and Mint Solana NFTs, ETH Support on the Way – News

On Monday, FTX US announced the launch of its non-fungible token (NFT) marketplace. FTX stated that the marketplace will offer Solana-based NFTs, but support for Ethereum-based NFTs will come in the near future.

FTX US unveils new Solana NFT market and plans to support Ethereum in the near future

West Realm Shires Services Inc., the parent company of FTX USA, announced on Monday that the US-based regulated cryptocurrency exchange the FTX NFTs marketplace. The market will give FTX US users the ability to mint NFTs and transfer the digital collectibles. The announcement, published on October 11, suggests that the market will initially host Solana (SOL)-minted non-fungible token (NFT) assets. “In the near future,” FTX NFTs plans to also implement Ethereum support.

FTX US President Brett Harrison stated during the announcement that the company is already “immersed in the NFT ecosystem.” “By learning about so many of these projects, we have gained a thorough understanding of the needs of creators and collectors in this space,” Harrison said in a statement. “With the launch of this platform, we hope to provide both US and global users with a regulated marketplace that is intuitive and responsive to their needs.”

FTX joins a number of competing NFT marketplaces raising billions to support all Solana NFTs that comply with the Metaplex standard

The FTX NFT marketplace will indeed have a large number of NFT markets to compete with, such as Opensea, Rarible, Makersplace, Nifty Gateway, the Wax Atomicmarket, Aavegotchi, Foundation, Superrare.co, Hic et nunc and more. Opensea itself is approaching the $10 billion mark in terms of revenue as it has taken over the NFT market, which supports both Ethereum and Polygon $8.58 billion in the all-time sale. While most of these markets support Ethereum, some of them use Polygon, Tezos, Wax, BSC and Flow.

FTX US, which plans to tap into the Solana ecosystem, could gain initial advantages in the market through the fork. The company stated that it plans to "work directly with Solana's project developers to ensure authenticity verification," emphasizing that bidding or listings can be made using a variety of assets, including USD, SOL or ETH. “All Solana NFTs that comply with the Metaplex standard will be supported on FTX’s US platform,” the company’s announcement continued.

Harrison and FTX US believe that the non-fungible token (NFT) collectible industry has entered our everyday lives. “The NFT ecosystem has begun to infiltrate pop culture, but lacks a platform that provides easy access and exposure to mainstream audiences,” Harrison’s statement concluded.

What do you think about FTX US launching an NFT marketplace that supports Solana-based NFTs? Let us know your thoughts on this topic in the comments below.

Photo credits: Shutterstock, Pixabay, Wiki Commons, FTX NFTs Marketplace, Cyber ​​Frogs NFT Collection, Solagon NFT Collection,