Crypto Exchange Kraken Shuts Down NFT Marketplace – Bloomberg Law

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
By Teresa Xie
The crypto exchange Kraken is shutting down its NFT marketplace almost two years after the platform was launched, saying it’s shifting more resources into new products and services.
“Clients have been informed of the changes and our team will support them as they move their NFTs to their Kraken Wallet or a self-custodial wallet of choice,” according to a statement from a Kraken spokesperson.
NFTs, or nonfungible tokens that serve as blockchain certificates that authenticate ownership of a particular asset, haven’t rebounded from the crypto bear market of 2022 as strongly as major tokens such as Bitcoin. However, like the …
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