Kraken NFT exits beta, Coinbase ‘Stand with Crypto’ gains support, and more

Kraken NFT marketplace exits its beta phase

Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted that it has expanded its number of NFT collections. The platform noted that it went from supporting 70 collections to over 250. According to Kraken, it will continue adding even more collections into its marketplace. 

We are launching out of BETA! #KrakenNFT is your gateway to buying, selling & learning about NFTs!

Browse 250+ collections
⛓️ Polygon blockchain Integration
Reddit Collectible Avatars @0xPolygonLabs @Reddit

Read our latest announcement: https://t.co/3Xnn2tMyST pic.twitter.com/l1LTizqwT1

— Kraken NFT (@KrakenNFT) June 8, 2023

Apart from the collection expansion, the firm also announced that it has added support for the Polygon Network, highlighting that the popular Reddit Collectible Avatars will now also be supported by the marketplace. 

In the announcement, the NFT trading platform also advertised that it will not be charging gas fees to its users when buying or selling NFTs on its platform. However, in a disclaimer at the bottom of the post, the marketplace noted that gas fees will still be incurred when transferring assets on and off their platform.

Coinbase ‘Stand with Crypto’ NFT campaign gains community support

As the United States Securities and Exchange Commission (SEC) targeted crypto exchange Coinbase in a lawsuit, members of the community have started to show their support for the trading platform by minting its “Stand with Crypto” NFTs and putting the shield badge on their Twitter profiles. 

Time to #StandWithCrypto. ️

Join the movement for sensible crypto policy. Mint the latest NFT. Existing holders = new metadata ready for you.

https://t.co/yCGNEt8Zcn pic.twitter.com/f2JBxzkw7c

— Coinbase ️ (@coinbase) June 6, 2023

Back in April when the collection was launched, the NFTs only had 15,000 mints and 7,000 owners according to NFT marketplace OpenSea. Now, the collection has over 142,000 mints and more than 52,000 owners, with more minting the NFTs as the exchange’s legal battle with the SEC intensifies. 

Many also expressed their support for the move by tweeting the shield badges on Twitter, with some even sharing artworks with Coinbase shields.

Coinbase has been a public company since 2021 and has looked for regulatory guidance at every turn

I support @brian_armstrong for standing up to the SEC and hope this…