Most of the NFT trading volume takes place on the OpenSea marketplace, but crypto exchanges are beginning to see that they can also get in the game.
FTX is one of the crypto exchanges that have decided to join the race. The marketplace it currently hosts is rather simple, but there are plans to expand it even more. The CEO of FTX, Sam Bankman-Fried confirmed today via Twitter that the newest update is the ability to mint NFTs directly on the exchange.
This means that customers of the FTX exchange are now allowed to create their own artworks, mint them as NFTs on the exchange, and then sell them on the marketplace.
Bankman-Fried also mentioned that all NFTs will be cross-chain, meaning across the Ethereum and Solana blockchains.
As of now, you are only allowed to store and view these NFTs within the exchange, but the marketplace is planned to be expanded soon in order to support deposits and withdrawals. The expansion is scheduled to take place in the next few weeks thus letting customers sell mainstream NFT projects on FTX.
FTX will charge 5% to the buyer and to the seller per sale, which results in a total fee worth 10% of the price.