FTX U.S. Now Lists Ethereum NFTs

FTX U.S. traders can now buy NFTs based on both Ethereum and Solana via the exchange’s dedicated marketplace. Read the full article by: Chris Williams

Key Points:

• FTX grows its name almost everyday with a new partnership or advertising deal but today they are trying to attract more users who are already down the rabbit hole with NFTs. You will now be able to trade your Bored Ape, Punks, and any other Ethereum based NFTs on FTX.us.

• FTX launched its NFT marketplace in October but until now it only supported Solana based products. With the launch of ETH NFTs they are putting themselves in an even more direct competition with Coinbase than they were before. Coinbase plans on launching their marketplace in the near future and is the biggest crypto exchange in the US currently.

• The biggest fish in the NFT marketplace is OpenSea currently but big players like FTX and Coinbase will be trying to eat away at that market share. The main difference between a marketplace like FTX and OpenSea is that FTX will hold custody of each token like they do for other currencies. FTX is also charging a 2% fee as opposed to 2.5% on OpenSea.

• Another big advantage that FTX will have in the US market is that they also acquired Ledger X over the summer. This acquisition landed them a broker dealer license and will allow them to offer fully regulated derivatives trading for their users.