Crypto exchange Kraken has announced the closure of its non-fungible token (NFT) marketplace just over a year after its launch, The Block has reported.
In an email sent to customers, the platform revealed that the NFT marketplace will enter an exclusive withdrawal mode on November 27 and that users will have a 3-month window to transfer their NFTs before its final closure.
This decision has been made to redirect resources to new products and services currently in development. A Kraken spokesperson confirmed the closure and stated the team will help customers transfer their NFTs to their Kraken wallet or another self-custody wallet.
Kraken had officially launched the marketplace in June 2023, after beta testing it for a few months.