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KuCoin, a global cryptocurrency exchange, today launched its flagship NFT ETF Trading Zone product today, July 29th. It was created to improve the liquidity of NFT assets and lower the threshold for his NFT investment in good standing with more than 20 million users, Coin Journal learned. From press release.
With the introduction of this new product, KuCoin will become the first CEX to support such a vehicle. It was also the first company to launch a USDT-denominated ETF product that tracks specific high-quality NFT assets.
Trading Zone lists five ETFs as underlying assets covering hiSAND33, hiKODA, hiBAYC, hiPUNKS, and hiENS4 as the start of its partnership with Fracton Protocol.
The first token supported for trading by the KuCoin NFT ETF Trading Zone is hiBAYC, allowing users to take proportional ownership of native blue chip NFTs.
With this new product, KuCoin will significantly boost its efforts to accelerate the establishment of a mature NFT market by lowering the investment threshold for top or potential NFTs.
It also offers first-class liquidity, a better way to invest in top NFTs by paying in USDT instead of Ethereum, and there are no issues surrounding managing NFT infrastructure elements such as wallets, OpenSea, and smart contracts.
KuCoin launched Wonderland, an interactive NFT platform, in April this year. It supports traditional games and crypto games. In May, he released Windvane, another of his NFT marketplaces that offers NFT issuance, launchpad, trading, management, and more.
KuCoin CEO Johnny Liu said:
As an exchange that maintains NFT market penetration, KuCoin will continue to provide investors with user-friendly products to facilitate their investment in NFTs. We are thrilled to become the first centralized crypto exchange to support NFT ETFs that allow people to easily invest and trade top NFTs with USDT. , will continue to explore more NFT related products.
