Cryptocurrency exchange FTX has introduced the first phase of Ethereum-based non-fungible tokens to its native NFT marketplace.
Users on FTX can now purchase an array of popular NFTs through the marketplace, including Bored Ape Yacht Club, Doodles, Pudgy Penguins and ‘digital land’ from The Sandbox and Decentraland – all using Ethereum (ETH) on their FTX account.
gm! Ethereum NFTs are live on https://t.co/IER7ate2sU!
We’re excited to expand our NFT marketplace, allowing users to buy, sell, and display their Ethereum NFTs alongside their Solana NFTs for the first time! Probably nothing. pic.twitter.com/DREqxvNDVc
— FTX – Built By Traders, For Traders (@FTX_Official) December 1, 2021
FTX US president Brett Harrison gave further insight on Twitter, saying the marketplace supports “bidding and buy now” options for ETH NFTs.
He also revealed that, as transactions “happen off-chain, there will be no gas fees charged”. In regards to additional fees, Harrison said “seller fees are 2% plus creator royalties” and withdrawal gas fees will be subsidised by the exchange.
Harrison went on to say that users can “expect to see more added in the future” as the marketplace scales.
The native marketplace was revealed back in September and now enables creators and owners to trade their NFTs ‘cross-chain’ via the Ethereum and Solana blockchains.
It’s now expected that FTX and Coinbase’s NFT marketplaces will pose a worthy and timely challenge to OpenSea’s market dominance.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.