Kraken winds down NFT marketplace 💼
Kraken, a major cryptocurrency exchange, has announced the closure of its NFT marketplace. Starting November 27, the platform will transition to a withdrawal-only mode, allowing users to retrieve their assets. This move marks the end of Kraken's involvement in the NFT trading space amid changing market dynamics and strategies.
The decision to wind down the NFT marketplace highlights both the challenges faced by NFT platforms and the shifting priorities within the cryptocurrency sector. By focusing on its core exchange services, Kraken aims to streamline its operations and allocate resources more effectively in a competitive market environment.
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