BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Kraken to Shut Down NFT Marketplace by February 2025

by Sham
November 26, 2024
in Business, Crypto, NFT
A A
Kraken to Shut Down NFT Marketplace by February 2025
3
SHARES
Share on TwitterShare on Reddit

• Kraken is shutting down its NFT marketplace
• After November 27, 2024, users can only withdraw assets from Kraken’s NFT marketplace
• Kraken’s NFT marketplace will completely shut down on February 27, 2025

Kraken announced it will be shutting down its NFT marketplace by early 2025. The crypto exchange will shift resources from the NFT platform to other undisclosed projects currently in development.

JUST IN: Kraken Exchange (@krakenfx) will shut down its NFT marketplace by February 27, 2025, to allocate resources to new products and initiatives pic.twitter.com/XZy9Uc7jBQ

— BlockNews (@blocknewsdotcom) November 26, 2024

NFT Marketplace Wind-Down Details

After November 27th, 2024, Kraken users will no longer be able to list, bid on, or sell NFTs on the marketplace. The only functionality still available will be NFT withdrawals.

According to a statement sent to Kraken users, the NFT marketplace will completely shut down on February 27th, 2025. A Kraken spokesperson confirmed the wind-down plans, telling The Block:

“We’ve made the decision to close our NFT marketplace so we can shift more resources into new products and services, including unannounced initiatives in-development.”

Launch and Decline of Kraken NFT Marketplace

Kraken first announced plans to launch its own NFT marketplace in December 2021. The marketplace debuted in beta in November 2022.

However, NFT trading volume has dropped significantly since peaking in spring of 2024. The Block’s data shows weekly NFT trading volume has remained below $200 million since April.

Kraken is the latest crypto firm to shutter its NFT operations amid the ongoing crypto winter. The move allows Kraken to focus developer resources on other product offerings rather than continuing to operate an underperforming NFT marketplace.

Tags: Crypto WinterKrakenKraken ExchangeNFT
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement
Crypto

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

May 8, 2025
Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do
Crypto

Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?
Crypto

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Cardano ADA On the Verge of a Major Comeback: Here are the Key Levels to Watch
Cardano

Cardano ADA On the Verge of a Major Comeback: Here are the Key Levels to Watch

May 8, 2025
$LINK on the Move: Is Chainlink About to Shake Off the Bears?
Chainlink

$LINK on the Move: Is Chainlink About to Shake Off the Bears?

May 8, 2025
Bitcoin Surges Past $98K Despite Fed’s Steady Rate Decision: Here is What You Need to Expect Next
Bitcoin

Bitcoin Surges Past $98K Despite Fed’s Steady Rate Decision: Here is What You Need to Expect Next

May 8, 2025
Load More

Related News

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

May 8, 2025
Trump Say Upcoming U.S.-China Trade Negotiations May Lower 145% Tariffs: Here is Why

Trump Say Upcoming U.S.-China Trade Negotiations May Lower 145% Tariffs: Here is Why

May 8, 2025
Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Cardano ADA On the Verge of a Major Comeback: Here are the Key Levels to Watch

Cardano ADA On the Verge of a Major Comeback: Here are the Key Levels to Watch

May 8, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.