FTX US Expands Marketplace for Trading Solana Tokens

Jafrin  |  Oct 12, 2021

FTX US has announced the launch of its non-fungible token marketplace that will feature Solana-based NFTs with support for Ethereum NFTs in the near future. This is a step forward from FTX's prior offering of only allowing users to trade NFTs minted on its website.

Marketplace for Solana-Based NFTs

FTX.US, an affiliate of FTX crypto exchange is, launching an NFT marketplace that will allow users to mint, hold, authenticate, and trade digital collectibles on the Solana blockchain, the company announced Monday.

The platform will be available to U.S. customers and support all Solana NFTs that conform to the Metaplex standard, a Solana-powered protocol that allows users to transfer existing NFTs and provide project creators with full control over the NFT's life cycle.

Per the announcement, the marketplace will initially host Solana (SOL) minted non-fungible token (NFT) assets and in the near future, FTX NFTs plans to implement Ethereum support as well.

Brett Harrison, the president of FTX US, said:

"We decided to create an NFT marketplace on FTX US after becoming immersed ourselves in the NFT ecosystem. In learning about so many of these projects, we've come to a comprehensive understanding of the needs of creators and collectors in the space. With the launch of this platform, we hope to provide both US and global users with a regulated marketplace that is intuitive and responsive to their needs."

Identification Verification Needed

In addition, the new marketplace will support bank transfers, wire transfers, or credit cards to purchase NFTs. Not only that, but newly minted NFTs can also be listed in either US dollar, Solana, or ether.

Unlike OpenSea, the popular and biggest ethereum-based NFT marketplace, users who wish to trade in the FTX marketplace are required to open accounts that verify their identities. Those who transact anonymously will be immediately disqualified.

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