Crypto exchange FTX has become the latest firm to launch a dedicated NFT marketplace in the US.
The company has created the platform to be exclusive for US-based customers and will allow consumers to mint, buy and sell various NFTs across the Ethereum and Solana blockchains.
Deposits and withdrawals will also be available in the coming weeks, the company confirmed while presenting the new features with an art NFT named “Test.” The image is up for sale with bidders surpassing $1,000 for it.
While FTX is engaging actively with NFTs, founder Sam Bankman-Fried has chosen to be cautious.
In a CNBC interview, he cautioned that investors may be vulnerable to making bad choices in a market that is rapidly developing with no clear value of the assets sold.
“It could lead to just incredibly fast and giant adoption. It could also lead, frankly, to sort of a sour taste in people’s mouth if there’s a crash, and no one ever quite figured out what it was”, Bankman-Fried noted.
FTX is now catching up to rivals such as Binance which also launched a marketplace in June.
Meanwhile, sports betting and technological company DraftKings rolled out its own dedicated marketplace in collaboration with NFT star Tom Brady.
NFTs are still growing even though the National Football League has prohibited teams from signing crypto partnerships or launch NFTs.
Meanwhile, NBA Top Shot has been pushing ahead with NFT sales generating robust revenue for the platform as well as the NBA as part of a licensing agreement.