Veteran Crypto Exchange Karen to Launch an NFT Marketplace

As the NFT craze continues to intensify, more and more companies are looking to hop on the bandwagon.

Karen to Launch an NFT Marketplace

In an interview, published just hours before the press on digital media outlet bnnbloomberg, founder of veteran US-based crypto exchange, Karen, gave insights on the exchange’s own NFT marketplace, that is under the development phase at the moment.

Founder Karen, Jesse Powell, elucidated that the exchange is developing an NFT marketplace that would be more than just a platform for buying, selling and holding digital assets.

Rather, Powell noted, as an example, that if someone deposits CryptoPunk on Kraken, the exchange wants “to be able to reflect the value of that in your account. And if you want to borrow funds against that.”

2021, The Year of NFTs

The CEO Powell stated that he is of the view that the year 2021 will go down as the year of NFTs in history. It is actually pretty true as we, throughout the year, have seen not only the crypto community but sportsmen, journalists, politicians and others as well, issuing NFTs.

Rather ambitiously, Powell asserted that in a few years time NFT market will outgrow its ongoing phase of “speculation”. Whereas, he went further to state that phase two is about buying arts and supporting artists, and the functional uses of NFT will be phase three.

Listing of Shiba Inu and Acquisition of Stacked

He also shed some light on the recent listing of namecoin, Shiba Inu, on Karen. He said, though there’s nothing like some new interesting technology about Shiba Inu and it is largely a community-driven interest, he concluded:

“It’s basically a memecoin that has the community’s attention, and sometimes you have to just list those.”

Recently Karen has also acquired Stacked, a stacking platform. The acquisition is said to be one of the biggest deals in the crypto market, till date.