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FTX digital assets exchange is establishing its NFT marketplace

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  • NFT ecosystem is continuing to grow with more marketplaces
  • FTX crypto exchange has introduced its own native NFT platform
  • The marketplace will enable the users to mint, buy, and sell Non-Fungible Tokens
  • FTX founder pursued the brisk transition of the NFT ecosystem, signifying that investors could become liable to vulnerability in such a vibrant market if improperly nurtured on the potential risks

NFT or Non-Fungible Token (NFT) have gained mainstream attention in the world of art. The craze for such crypto tokens was observed plunging in mid-May as the market crashed. However, following the current market, it seems the craze for NFTs is resuming to surge. Recently, FTX, a crypto assets exchange offering trading services has rolled out its own native NFTs marketplace. The platform is designed to capitalize on the industry’s parabolic growth over the previous year. It is worth noting that crypto exchanges like FTX and OKEx are introducing their platform to mint NFTs.

FTX to launch NFT marketplace

The NFT ecosystem has seen tremendous growth in recent years. Since the beginning of this year, the growth of the industry has remained undoubtedly parabolic. Hence, observing such a scenario, FTX, an extensive crypto assets exchange has become the latest platform to inaugurate an aboriginal NFT hub.

The United States exclusive NFTs marketplace

Notably, the platform is exclusive for the US-based clients of the platform. Hence, the marketplace will enable the users to mint, buy, and sell Non-Fungible Tokens. All such tokens are traded across the Ethereum and Solana blockchains.

On the other hand, deposits and withdrawal features are also expected to be introduced in the coming weeks. Ultimately, the platform will open up the capability of depositing external crypto tokens onto the FTX exchange’s marketplace.

Word art style “Test” image for $1,100

Amid the launch of the platform, the exchange has a public display of the new outline. A word-art style image that reads “Test” has been launched. Notably, the image has a current bid of $1,100 and at press time a remaining time of 3 hours.

Sam Bankman-Fried, the founder of the crypto exchange, has asserted buzzer in a recent interview with CNBC. He pursued the brisk transition of the NFT ecosystem, signifying that investors could become liable to vulnerability in such a vibrant market if improperly nurtured on the potential risks. 

Crypto exchanges are eyeing the NFTs exosystem

It is observed that FTX isn’t the only digital assets exchange to introduce into the NFT space during this year. Direct competitor Binance has also launched its marketplace in June with a unique “100 Creators” project in coalition with the likes of soccer players Michael Owen and Alphonso Davies. Moreover, Binance also included singer-songwriter Lewis Capaldi and artist Trevor Jones.

On the other hand, OKEx, the crypto spot, and derivatives exchange has also introduced its marketplace. The exchange is also allowing its users to mint, buy, and sell such crypto tokens within the native ecosystem.

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