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Well-known crypto exchange FTX US launches an NFT marketplace



West Realm Shires Services Inc, commonly known as FTX US, has launched a non-fungible token (NFT) marketplace called FTX NFT. The company, which operates a leading crypto exchange, announced the news in a press release yesterday, indicating that the platform is initially rolling out NFTs on the Solana network. However, the company intends to add support for Ethereum-based NFTs soon.

According to the press release, the marketplace allows users to mint, hold, authenticate, and trade NFTs through a regulated NFT exchange. Users of the platform will also enjoy some of the lowest fees in the industry. In addition, the project developers on FTX NFT have complete control over the life cycle of the NFTs.

According to reports, the marketplace will only be available to US FTX users. Nonetheless, US residents and non-US residents in supported countries can access the platform by logging into FTX US.

The exchange is intended to support both NFT auctions and the sale of digital works of art with fixed prices. FTX US wants to work directly with the project providers on Solana. This is done to ensure that every NFT listed on FTX NFT is authentic.

FTX aims to meet the needs of NFT artists and collectors

FTX US president Brett Harrison said the decision came after the team looked at the cutting edge industry. By entering the NFT sector, FTX US got to know various projects and understood the needs of artists and collectors.

With the launch of FTX NFT, the crypto exchange aims to provide NFT enthusiasts in the US and around the world with easy access to the emerging industry through an intuitive and responsive platform.

The marketplace supports multiple payment options for buyers. This includes cryptocurrencies, bank transfers and credit card payments . Project creators can list newly minted NFTs in either USD, Ethereum (ETH), or Solana (SOL).

Harrison is confident that FTX NFT will catch on quickly. He also said:

The NFT ecosystem has started to infiltrate pop culture. But what was missing was a platform that offered easy access to and addressed the mainstream audience. With FTX's NFT platform, we are able to provide simpler, safer and easier tools. These can remove the entry barriers for the general public in the NFT area.

Solana's NFT ecosystem continues to grow

This launch has the potential to further expand Solana's NFT ecosystem, which aims to overtake Ethereum. According to Solanalysis Solana currently supports 90 projects NFT with a market capitalization of 838,181,576 US dollars. In the past seven days, NFTs worth over $ 60,000,000 has traded on Solana.

Despite these developments, SOL does poorly after a downtrend began. Most recently, the price plummeted from a 30-day high of $ 176.97. At the time of this writing, the cryptocurrency is priced at $ 144.15 after losing 2.26% in the last 24 hours.

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