FTX Launches Cross-Chain NFT Marketplace for Both US and Global Users

Cryptocurrency exchange FTX now allows anyone to make their own non-fungible tokens (NFT).

On Monday, the CEO Sam Bankman-Fried took to Twitter to share that the DIY NFT listing is available on both FTX for global users and FTX.US for its American users.

Just two weeks back, in an interview with CNBC, Bankman-Fried had noted about the NFT craze, saying, “It’s almost going mainstream faster than the mainstream understands what it is they’re adopting, which is a weird phenomenon.”

This NFT mania as expected was seen at FTX as well and the exchange has now introduced a charge of a one-time $500 fee to submit the digital art.

“Due to the massive number of submissions, too many of which were just a picture of a fish, we are now charging a one-time $500 fee to submit NFTs,” tweeted Bankman-Fried.
“Hopefully this will reduce spam.”

Bankman-Fried kickstarted the cross-chain marketplace with his own NFT “Testing Testing 123 #1.” SBF’s test NFT currently has a total of 22 bids with the highest one for $2,000.

Additionally, deposits and withdrawals will be opened up in the next couple of weeks which means users will be able to deposit outside NFTs such as Bored Ape Yacht Club and CryptoPunk on the platform.

“All NFTs will be cross-chain ETH/SOL!” added Bankman-Fried.

While Ethereum is the dominant layer 1 blockchain for NFT much like DeFi, Solana is showing promise with its cheaper and faster alternative. Recently, NFTs on Solana also started gaining traction with Solarians and Aurory.

Already, SOL has been rallying like crazy since last month, having hit a new ATH at $150 just two days back. So far in 2021, SOL is up 7,593%.

As for FTX’s exchange token, FTT also hit a new peak just a few hours back at $73.30. Currently trading at $72, it is up 1,106% YTD.

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