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Supporting Solana NFT Market! FTX.US Launches New Feature with Low Fees and Direct USD Trading

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Supporting Solana NFT Market! FTX.US Launches New Feature with Low Fees and Direct USD Trading

FTX has been active in the NFT market since June, first launching an NFT auction house and introducing a minting feature, allowing users to purchase and mint their favorite NFTs on the FTX website. Today, on the 12th, FTX.US's NFT market has expanded with some new features, allowing users to buy and auction NFTs from Solana on the platform.

FTX.US Supports NFT Trading on Solana

Prior to today, FTX.US's NFT marketplace was limited to buying and selling NFTs minted directly on its website. However, the founder of FTX announced today on his Twitter that FTX.US now supports NFT trading based on Solana.

To utilize this feature, users simply need to transfer their Solana-based NFTs to FTX.US's NFT wallet address, allowing them to sell or auction them on the market.

Regulated NFT Market

Unlike decentralized NFT marketplaces such as OpenSea, Solanart, and DigitalEyes, FTX.US supports users to deposit funds using bank accounts or credit cards and even purchase NFT collectibles with USD. Additionally, sellers only incur a 2% transaction fee, lower than OpenSea's 2.5% and Solanart's 3%. However, due to FTX.US being regulated by the U.S. government, users must undergo KYC verification to use the service.

FTX.US CEO Brett Harrison further mentioned on his Twitter that NFT projects that pay royalties to holders upon sale do not comply with U.S. securities laws. To mitigate user risks, such NFT projects are temporarily unavailable for listing.

In September this year, Bloomberg conducted a series of interviews with Brett Harrison, where he discussed FTX.US's ambitions and launch date for the NFT market. While Brett Harrison seems to have delivered on his promises by launching a competitive trading market, the quantity of NFTs and user experience on FTX.US still appear to lag behind platforms like OpenSea. Whether FTX.US can carve out a path to success with its strong development team, lower transaction fees, and a more secure trading environment for users remains to be seen.