The Curious Case Of Crypto Exchanges Diving Into The NFT Ecosystem

Ever since Beeple sold an NFT for $69 million earlier this year, everyone seems to be jumping on the NFT bandwagon. Celebrities, musicians, artists, influencers, retail and institutional investors – everyone seems to have acquired a taste for non-fungible tokens.
And the latest participants to join this growing trend are cryptocurrency exchanges. Binance pioneered this shift by launching its own NFT marketplace in June this year. Following this, in October, two of the world’s most popular exchanges, Coinbase and FTX.US announced their entry into the NFT space with their NFT marketplaces that let users mint, collect and trade NFTs.
Another prominent global cryptocurrency exchange, AAX, has joined the ranks, debuting in the NFT scene with FrankNitty3000’s The Crypto Gods NFT Series, launched at the Hong Kong FinTech Week. Minted on the Solana blockchain, this set of collectibles will be auctioned after the Hong Kong FinTech Week and AAX’s upcoming Bitcoin & Beyond Virtual Sum

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