Sam Bankman-Fried’s popular exchange, FTX, recently made headlines due to its plans to expand its offering, which mostly consists of futures trading. Futures trading within the exchange takes up around 80% of its total business, with the remaining 20% belonging to spot trading of a few available cryptos.
FTX announced plans to list three new coins over the next few months — Cardano (ADA/USD), Polkadot (DOT/USD), and Avalanche (AVAX/USD) — in order to boost that percentage further up. Now, however, he also announced on Twitter that FTX users can start making their own NFTs, as well.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
According to his tweet, published only hours ago, users can go to FTX and make their own NFTs, all of which will be cross-chain ETH/SOL. Deposits and withdrawals will become available in the next few weeks when users will also be able to deposit outside NFTs.
Best of all, the exchange will be servicing everyone, including US and non-US users who are interested in joining its platform and using its products and offerings.
FTX evolves to meet user demand
FTX’s move into the NFT space marks only the latest example of companies that are interested in creating tokenized digital art. While the NFT trend seemed like it started to lose popularity a few months back when the crypto industry first started experiencing its sharp crash — the trend is now back, and it appears to be stronger than ever.
There are a variety of projects on offer now, with some remaining strongly anticipated. For FTX, this will be another highly popular new product that will allow the exchange to attract even more users, which is, ultimately, its goal for introducing this and other changes.
While FTX is already extremely popular, the crypto market is still as competitive as ever, and innovation and response to user demand will determine which platforms will remain on top, and which ones will fade away. For now, FTX seems to be making the right moves which will make it a go-to exchange for its existing, as well as new users.
Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,
67% of retail CFD accounts lose money