Crypto derivatives exchange FTX is launching a minting platform for NFTs on its U.S. version, tweeted the exchange’s founder and CEO Sam Bankman-Fried.
In a progression of tweets, Sam Bankman-Fried revealed that all non-fungible tokens on the marketplace could be traded cross-chain, with deposits and withdrawals of NFTs opening up in the next few weeks.
The NFT marketplace can be used globally, he added, with international users able to access both platforms. On the question of whether popular NFTs like Bored Ape Yacht Club could be deposited using the marketplace, the CEO responded "soon!" – a development that could prove extremely wanted due to the expanding interest in native Solana NFT marketplaces.
Well, the initiative deepens the exchange’s competition with NFT-focused platforms such as OpenSea and Rarible, which have noticed their daily trading volumes soar in recent months, as well as the world’s largest crypto exchange, Binance.
Actually, FTX’s U.S. and global sites previously included NFT marketplaces. But did not offer users to mint their own tokens. Creators were required to get in touch with the exchange.
Well, the NFTs will be built cross-chain on Solana and Ethereum, the CEO said, and deposits, also those belonging to NFTs not built on FTX.US, and withdrawals will open up in the recent future.
The Solana NFT space has brought enthusiasts to the ecosystem initially through the launch of the - Degenerate Ape Academy - which is a collection of various cartoon apes. Degenerate Ape Academy led to the first of a series of all-time highs set by Solana and has been attracting further NFT owners because of the low fees offered on trades and minting of NFTs.
FTX’s interest in the Solana ecosystem originates from an early investment from FTX’s investment arm Alameda Research and the development of DEX platform Serum, which is also being built on top of Solana.