FTX adds support for Ethereum NFTs
Now FTX exchange has started to support all the NFTs digital collectibles on Ethereum as well as the Solana network on its FTX.US platform.
FTX is a popular crypto exchange and this exchange is popularly known for its marketing strategy. In the past, FTX exchange did many advertisement-related partnerships and acquisition of the space in the ads platforms. FTX also launched the Solana network-backed NFTs marketplace FTX.US for US users.
In the latest announcement, the FTX exchange declared that now all the FTX.US users will be able to use NFTs trade on the platform not only on the Solana network but also for Ethereum.
So with this initiative, FTX became the first-ever crypto exchange to support both of these two networks together. And obviously, it will create a big competition in the crypto market for another crypto NFTs marketplace like OpenSea.
At present, OpenSea is the leading crypto NFTs marketplace. But now FTX is trying to create a big competition against OpenSea.
To grab a huge user base at the exchange, OpenSea is giving huge compensation in the withdrawal gas fees. In this way, OpenSea is trying to grab the whole Crypto NFTs users base of the crypto space.
FTX.US president Brett Harrison also noted about the fees system of the trading and withdrawal of NFTs and said:
“By not requiring gas for doing things like bids, we’re going to see a lot more price action and price discovery on the platform, and we hope that in general attracts liquidity.”
In a recent interview, the FTX founder hinted that they are aiming to make the FTX platform the leading crypto and NFTs platform. In the future, they will make FTX favourable for event planning, gaming, and others. However, this planning of the FTX exchange is hinted that they are trying to touch the Metaverse concept.
“I would now put NFTs in that top category probability-wise with a couple of other things in terms of what brings a non-crypto native audience to crypto for something other than financial investing,” FTX founder said
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