- Users will only be able to withdraw assets from Kraken’s NFT marketplace after November 27, 2024; they will no longer be able to list, bid on, or sell anything.
- On February 27, 2025, Kraken’s NFT marketplace will shut down entirely.
The massive cryptocurrency exchange Kraken is closing its NFT marketplace in order to free up funds for future initiatives.
Users will only be able to withdraw assets from Kraken’s NFT marketplace after November 27, 2024; they will no longer be able to list, bid on, or sell anything. The marketplace will shut down entirely on February 27, 2025.
In order to devote more resources to new goods and services, including unannounced projects in development, we have decided to shut down our NFT marketplace. Our staff will assist clients in transferring their NFTs to their preferred self-custodial wallet or their Kraken Wallet after informing them of the changes.
Kraken first hinted at the introduction of its own NFT marketplace in December 2021, with the platform being live in beta by November 2022.
But since this year’s spring, NFT sales have essentially stayed the same. Weekly NFT trading hasn’t surpassed $200 million since April 2024, despite recent increases in trade volume for certain projects, such CryptoPunks.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
