Leading Exchange FTX Now Offers NFT Mining & Trading

September 7, 2021

Amidst booming demand for NFTs, the latest crypto business to get on board is leading cryptocurrency exchange FTX.

Following a recent announcement made by Sam Bankfman-Fried, the exchange’s Chief Executive Officer, users of the exchange now have the possibility to create their own artworks and mint them into NFTs.

According to the FTX CEO, this latest move is aimed towards the evolution of the firm into a platform that would support the ability to mint NFTs directly.

Aside of just minting their NFTs on the platform, users will be able to leverage on the marketplace of the site to trade their NFTs. All NFTs on the exchange would support Ethereum and Solana blockchain and deposits and withdrawals would be supported in a couple of weeks, Bankman-Fried revealed. Right now, the company’s website has a test interface with the CEO’s first NFT listed.

Further information on the exchange’s ‘Support’ page shows that both buyers and sellers on the NFT marketplace will be charged 5 percent of the cost of the asset. In total, the exchange will make a not-too-shabby 10 percent on each traded NFT.

Other cryptocurrency exchanges like Binance and OKEx already provide NFT marketplaces for their users.

The option looks to be a success already. Over 1000 NFTs have been submitted to be created on FTX in the first 8 hours since it went live.

The post Leading Exchange FTX Now Offers NFT Mining & Trading appeared first on iGaming.

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Author: Peter Siu

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