In Brief:
- FTX.US’s marketplace will now support Solana-based NFTs
- Users will be able to fund accounts for trading NFTs through credit card payments, crypto transactions, and bank transfers.
- The support for Ethereum NFTs will be added soon
Now, FTX’s NFT marketplace is not limited to the only NFTs that have been minted on its website. The crypto exchange FTX has now expanded its NFT marketplace for Solana-based NFTs as well. This step has been taken to support the trading wide range of Solana NFTs.
The company established the marketplace last month for its users to create artworks and mint them as NFTs, to be sold within its marketplace.
Up to now, The FTX.US’s marketplace has only been accessible to trade NFTs that have been made on its website. Buying and selling of the majority of Solana-based NFT collections – such as Solana Monkey Business, Degenerate Ape Academy, and Aurory – have been traded elsewhere. FTX.US has now decided to include those in its marketplace to compete with rival marketplaces like Solanart and Digital Eyes.
FTX.US president Brett Harrison stated – “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.US to begin with 75 NFT projects, as told by Harrison. It targets to support several NFTs that are based on Solana’s Metaplex standard. Along with it, FTX.US will not be listing projects that regulators might consider securities offerings. This decision has been taken to stand out among marketplaces that have few restrictions.
FTX.US also plans to work with NFT creators to protect customers from buying fake NFTs, and to ensure authenticity. Its marketplace will allow customers to buy and sell NFTs at fixed rates as well as it will have an auction system similar to Open sea.
Only users with FTX accounts linked to their real-world identity will be able to trade NFTs. An anonymous crypto wallet will not be allowed to use the marketplace.
Users can fund their accounts for trading NFTs by credit cards and crypto transactions, and with bank transfers as well. NFTs can be bought in USD, Solana (SOL), or ether (ETH).
Currently, the company is solely focusing on Solana-based NFTs but plans to support Ethereum-based NFTs on its platform in the future. As of now, It will let its users withdraw NFTs from its marketplace to external wallets.
