CryptoPunks, Bored Apes, and other Ethereum NFTs may now trade on FTX.

In October, FTX US announced the debut of its NFTs marketplace, promising that Ethereum NFTs will be supported in a couple of weeks after entering Solana directly.

At a press conference, Brett Harrison, president of FTX US, revealed that Ethereum NFTs are now available on the exchange. At launch, the platform will support ERC-721 collectibles and include CryptoPunks and the Bored Ape Yacht Club collections. Last week, FTX posted a picture that included silhouettes from the Cool Cats and Doodles collections.

The FTX US marketplace, like Solana's NFTs, is a controlled and custodial exchange. This implies it must comply with the same Customer Identity Control (KYC) requirements as the FTX US cryptocurrency exchange, and NFTs must be moved to the marketplace's own platform before being sold.

FTX will accept Ethereum NFTs in the same way as it accepts Solana collectable currencies. Buyers can also buy NFTs using cryptocurrencies on the FTX website or mobile app.
FTX is the only NFT exchange that presently supports Ethereum and Solana NFTs. Ethereum is presently the most popular platform for collectible NFTs, with Opensea alone generating billions of dollars in monthly trade activity.

In recent months, Solana has established itself as Ethereum's main competitor in the NFT industry, owing to its faster transaction speeds, lower fees, and reduced power usage.

The arrival of FTX into the Solana market had an immediate impact: the exchange refused to list projects that offer NFT holders royalty-like payments, citing regulatory issues, and many artists adjusted their practices. As a result, compensation is provided.
No comments
Post a Comment