FTX.US launches a Solana-based NFT marketplace

The NFT space is one of the fastest growing in the crypto industry, and more companies are entering the sector

FTX.US, the United States arm of leading crypto exchange FTX, has fully launched its non-fungible token (NFT) marketplace. This latest development comes as the NFT market continues to gain more adoption globally.

FTX’s NFT marketplace is designed to support the buying and selling of a wide range of Solana-based NFTs. In the past, the FTX NFT marketplace was only focused on buying and selling NFTs directly minted on the platform.

However, the platform is now expanding beyond this scope to support Solana-based NFTs. FTX.US users can now buy and sell a wide range of Solana-based NFTs, including Degenerate Ape Academy and Solana Monkey Business.

FTX.US president Brett Harrison stated that with the launch of the platform, the crypto exchange wants to provide its US and global users with a regulated marketplace for NFTs that is both intuitive and responds to their needs.

The president added that the marketplace would start by supporting 75 Solana-based NFTs. However, the platform will introduce more Solana-based NFTs over the coming weeks and months. Harrison also highlighted that they have a few restrictions when it comes to listing Solana-based NFTs.

The exchange said it doesn’t intend to list projects that financial regulators could term as securities. FTX.US said it would work with NFT creators to ensure that customers don’t fake NFTs. The partnership will see the creators verify the authenticity of the NFTs they intend to sell.

The FTX NFT marketplace is intended to compete with the likes of OpenSea, the world’s leading NFT platform. OpenSea currently accounts for the lion's share of NFTs sold in the cryptocurrency space.

FTX is currently one of the leading cryptocurrency exchanges in the world. The exchange has experienced massive growth over the past year, with its total valuation increasing by nearly $16 billion within the space of 12 months.