NFTs are creating waves in the crypto space due to their technological innovation and potential to establish a new ecosystem. However, a lack of interoperability and compatibility with different platforms is still a major hindrance to its progress. To combat this problem, FTX.US has come up with an innovative solution. FTX.US’s marketplace for NFT is now expanding support to Solana Blockchain. With this new feature, NFT buyers and creators can withdraw, trade, and deposit NFTs confirming to the Metaplex Token Standard.
Last Tuesday, the official United States arm of FTX made this announcement. They also added that FTX.US has future plans of adding support for Ethereum-based tokens. The marketplace is open to people from various jurisdictions, including non-US jurisdictions. However, residents of New York cannot sign up for the marketplace as of now.
President of FTX.US Brett Harrison is hopeful that this new initiative would provide the general public with secure and effective tools to trade in NFTs through their marketplace. Harrison also added that though we are seeing more of NFTs in popular media, there is no solid framework that can expand its reach to mainstream customers. Apart from extending support to Solana Blockchain, users can now purchase NFTS through credit cards, wire transfers, or bank transfers. The price of fresh NFTs would be given in U.S. dollars, ETH, and SOL on the marketplace. Though FTX has a 2% fee for NFT sales, listing NFTs does not cost anything. NFT enthusiasts are optimistic that the FTX.US marketplace will bring a paradigm shift in NFT trading.