Kraken cryptocurrency exchange has announced its plan to shut down its NFT marketplace by February of next year. Effective November 27, the platform will limit its operations to allow only withdrawals,

Kraken, a centralized crypto exchange platform that allows users to buy and sell crypto, has announced plans to close its NFT marketplace.

The crypto exchange Kraken is shutting down its NFT marketplace almost two years after the platform was launched, saying it’s shifting more resources into new products and services.

Kraken will shut down its NFT marketplace, entering withdrawal-only mode on Nov. 27, to focus on new products.

Kraken Exchange has given a 24 hour notice to activate the three month shut-down process of its NFT marketplace

Kraken, one of the largest cryptocurrency exchanges, will close its NFT marketplace to reallocate resources toward upcoming projects. As of November 27, 2024, users will no longer be able to list, bid, or sell items on the platform. The marketplace will fully shut down on February 27, 2025, allowing users only to withdraw their assets.

The cryptocurrency exchange Kraken recently announced its plans to completely shut down its NFT marketplace on February 27, 2025. The exchange will also shut down most of the NFT marketplace’s services on November 27,