FTX launches a dedicated store for NFT tokens built on the Solana blockchain
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Answer FTX launches a dedicated store for NFT tokens built on the Solana blockchain
A store dedicated to non-fungible NFT tokens built on the Solana blockchain has officially been launched, according to a tweet posted by the FTX platform yesterday.
Solana NFT Marketplace is launched Tweet embed!
How to deposit NFTs into FTXUS: pic.twitter.com/vHe2t9EJ56
– FTX – Designed by merchants, for merchants (@FTX_Official) October 11, 2021
The store is dedicated to exclusively displaying non-fungible NFT tokens based on the Solana blockchain.
There are also plans to support Ethereum-based NFT, which is the industry standard.
FTX.US, a North American subsidiary of parent company FTX, will allow users to mint, hold, authenticate and trade NFTs in the new store.
Read:After the total market capitalization of the cryptocurrency market reached $1 trillion… what next?
The store will charge a fee of 2% each from the buyer and seller and from each sale or trade, plus a fee of $1 for minting or listing the NFT.
NFT support based on the “Solana” protocol:
All digital tokens on the store platform will use the “Metaplex” protocol, which means that they are not likely to be compatible with other leading markets unless they integrate their protocols in the future.
Due to US regulations, FTX has strict KYC requirements for NFT trading which are not required in stores and other marketplaces such as OpenSea.
This may deter artists who wish to remain anonymous while promoting their work.
This FTX supports bank transfers and credit card purchases for NFT.
Sam Bankman-Fried, founder of FTX, did not explain why the system was based solely on Solana.
Mr. Brett Harrison, CEO of FTX.US stated:
We decided to create an NFT marketplace on FTX US after we immersed ourselves in the NFT ecosystem.
The NFT ecosystem is starting to infiltrate pop culture, but it lacks a platform that provides easy access and exposure to a regular audience.
Read:Bank of Canada and MIT conduct joint research on CBDCs
The rise in the prices of digital currencies “SOL”:
The Solana cryptocurrency has shot up this year, driven by momentum from the FTX platform, which has helped to aggressively market the Solana project in the US.
Although the price of the digital currency SOL is down 33% from its September 9 high of $213, the coin has made nearly 300% since the beginning of August.
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