FTX.US expands NFT marketplace to support Solana tokens
After launching its NFT marketplace last month, FTX.US has expanded support to the Solana Blockchain and plans to integrate Ethereum tokens soon too.
The U.S. registered branch of FTX announced the expanded functionality on Oct. 11, revealing the marketplace also plans to support Ethereum-based tokens in the near future. The marketplace is open to both U.S. and non-U.S. customers from a long list of jurisdictions, however New York residents are unable to sign up for the platform.
Brett Harrison, the president of FTX.US, said that the firm is looking to provide “simpler, safer and easier tools” for mainstream users to trade NFTs via its marketplace, adding:
FTX.US’s NFT marketplace has expanded support to the Solana blockchain, enabling users to trade, deposit and withdraw nonfungibles that conform to the Metaplex token standard.
Both FTX and the company’s U.S. subsidiary initially launched NFT marketplaces with limited functionality last month. Users could only create or trade NFTs minted using an interface reminiscent of Microsoft Paint, leading to a flood of hastily cobbled together sketches depicting cartoon fish being uploaded to the platform.
On Oct. 12, Harrison tweeted that the marketplace’s expanded functionality is only available on its U.S-based platform at this stage. Users must provide Identity documents and proof of residence to the exchange in order to deposit and withdraw from FTX’s NFT platform.
The platform also outlines that any NFT project of collection that “distributes or advertises the distribution of royalties” to NFT holders will be rejected, suggesting FTX.US is wary of regulators classifying its NFTs as investment products.