American crypto trading platform Kraken has decided to shut down its Non-Fungible Token (NFT) marketplace. In a personal message circulating on X, the exchange informed some of its users holding NFT of the sunset plans.
End of Kraken NFT Marketplace
As the trading platform noted, the shutdown process will commence on November 27. The digital collectibles trading platform will enter a withdrawal-only mode on this date.
Once this mode kicks in, the exchange said users will not be able to list, purchase, bid on or sell any NFT they hold. With these features deactivated, it noted that any of its NFT holders can transfer their assets to a self-custodial wallet of their choice.
Kraken occupies an important place in the crypto ecosystem. Beyond NFTs, the exchange co-launched the Global Dollar Network in partnership with Galaxy Digital and other industry giants.
This is a developing story, please check back for updates!!!
The post Just-In: Kraken To Shut Down Its NFT Marketplace appeared first on CoinGape.
