FTX Launches own NFT Marketplace, Lists Exclusive Third-party Tokens

The NFT craze has been taking the world by storm in 2021. Digital artists, actors, musicians, and even the WWE have been in on the act. In view of the ever-increasing interest in these digital tokens, crypto exchange FTX has launched its own NFT-trading platform.

There are already a bunch of NFTs available on the online marketplace. The most notable of those is the “SBF Lunch.” The Owner of this NFT wins a chance to meet Sam Bankman-Fried for either a lunch or a zoom call lasting half an hour.

The value of the token has already exceeded $10,000, but the auction doesn’t end until June 17.

FTX websites for the U.S and the main exchange will host the platform. It is also open for third-party vendors, some of whom have already listed their NFTs for trading.

Users can trade NFTs on the platform, while FTX will also add a feature to allow withdrawals into personal wallets in the near future. However, the exchange has decided to charge a 5% transaction fee to all users.

While NFTs made a splash earlier in the year, trading has plummeted since the start of April. According to The Block, NFT trading volumes, NFT platform users, and the transactions have all been on a major downward trajectory.

Despite this downward spiral, major players have continued to get on the NFT gravy train. FTX is the latest in the growing list of major exchanges to launch an NFT platform.

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