KuCoin Becomes First Centralized Cryptocurrency Exchange to Support NFT ETFs

Global cryptocurrency exchange KuCoin has launched its NFT ETF, becoming the first centralized crypto exchange to support such investment vehicles. KuCoin also stands out as the marketplace that lists core blue-chip NFT assets and is the first player to introduce a USDT-based ETF product in the market.

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.

“We Are Excited To Be The First Centralized Crypto Exchange To Support NFT ETFs”

Commenting on the opening of the NFT ETF Market, KuCoin CEO Johnny Lyu

“We are very excited to be the first centralized crypto exchange to support NFT ETFs. KuCoin; As an investment platform that maintains its penetration rate in the NFT sector, it will continue to offer user-friendly products that will facilitate investors’ NFT investments. With this move, users will be able to invest directly in the best NFTs with USDT comfortably. In the future, KuCoin will continue to create more NFT-related products for its users.”

said.

Studies on NFT Sector Continuing

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 exceptional trading experience with top-notch 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 the worry of 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 users a seamless experience in purchasing, investing and managing in-game NFTs, KuCoin in May; The NFT launchpad had launched Windvane, which offers many services such as mining, investment and management.