FTX Crypto Exchange Launches NFT Marketplace, Competes With Opensea?

FTX event marketplace NFT (Linedata)

JAKARTA – Recently, the FTX crypto exchange launched the NFT marketplace on its platform. The information was announced by the CEO of FTX San Bankman-Fried. Through his Twitter tweet, he invites users to create their own NFT.

Bankman-Fried said that its NFT marketplace will start opening NFT deposits and withdrawals in the coming weeks. The marketplace has support from various platforms so that it can trade all types of NFTs printed on the Ethereum and Solana blockchains, as reported by Bitcoin.com.

NFT fever has penetrated many people in the world. FTX seeks to capitalize on this momentum by launching an NFT marketplace. Recently, there have been a number of NFT projects that have sold at fantastic prices, more than US$1 billion (Rp14.2 trillion).

These NFT projects include CryptoPunks, a collectible series of images, Axie Infinity, plus proceeds from sales from the well-known NFT marketplace, Opensea.

Bankman Fried is also reported to have received 23 offers for NFT “Testing Testing 123 #1” which he posted on his Twitter account. The highest bid was US$2,100 (Rp29 million). Since the launch of the NFT platform, there have been hundreds of NFTs posted on FTX's Marketplace.

The FTX boss revealed that the problem occurred because of spam attacks from users. FTX is reported to be applying for an NFT delivery fee to its marketplace of US$500 (approximately IDR 7 million) for one delivery.

Of course, users complain about the shipping costs on social media. They judge the fees to be too high, while the costs of printing NFTs on the Ethereum decentralized exchange (DEX) are cheaper.

Following these complaints, Bankman Fried said that the fees would change in the near future. Fried revealed that the “pricing system” was to “reduce spam.”