Cryptocurrency exchange KuCoin has announced its new service in the NFT industry, the NFT ETF market.
With its new service, KuCoin aims to improve the liquidity of NFT assets and make blue-chip NFTs available to all investors.
KuCoin Becomes First Centralized Crypto Exchange to Support NFT ETFs
Listing key blue-chip NFT assets on its marketplace and launching a USDT-based ETF product, KuCoin has become the first centralized crypto exchange to support such investment vehicles.
The NFT ETF market creates a favorable environment for a wide range of investors seeking access to both blue-chip NFTs and other successful NFTs. In this context, in the first place with the Fracton Protocol; 5 NFT ETFs will be listed, covering hiBAYC, hiPUNKS, hiSAND33, hiKODA and hiENS4.
KuCoin NFT ETF Marketplace will primarily support hiBAYC token exchange. Users will also have proportionally shared ownership of local blue-chip NFTs. One of the first assets to be listed, hiBAYC is known as an ERC-20 token representing 1/1,000,000 ownership of the target BAYC on the BAYC Meta-Swap of the Fracton Protocol.
Stating that they are very excited to be the first centralized crypto exchange to support NFT ETFs, KuCoin CEO Johnny Lyu concluded his words as follows:
“As an investment platform that maintains its penetration rate in the NFT industry, it will continue to offer user-friendly products that will facilitate investors’ NFT investments. With this move, users will be able to comfortably invest directly in the best NFTs with USDT. In the future, KuCoin will continue to create more NFT-related products for its users.”
NFT Projects Continue
KuCoin plans to launch more NFT ETF projects with the corporate department of Fracton Protocol in the future. The KuCoin NFT ETF market is expected to lower the investment thresholds of high potential and strong NFTs in the crypto industry.
The NFT EFT Market will offer investors an investment experience with first-class liquidity and investors will be able to buy directly using USDT instead of ETH. KuCoin NFT ETF Marketplace; It will offer a better way to invest in the best NFTs without worrying about managing NFT infrastructure elements such as wallets, smart contracts and OpenSea.
KuCoin has been working on the NFT industry for a long time. The exchange launched its interactive NFT platform, Wonderland, in April. While Wonderland offers an experience for users to buy, invest and manage their in-game NFTs, KuCoin in May; The NFT launchpad had launched Windvane, which offers many services such as mining, investment and management.
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