VICTORIA, Seychelles–(BUSINESS WIRE)–KuCoin, a global cryptocurrency exchange, has announced the launch of its NFT ETF Trading Zone on July 29. The new product aims to improve the liquidity of NFT assets and lower the investment threshold for blue-chip NFTs for over 20 million users.
The launch of the NFT ETF makes KuCoin the first centralized crypto exchange to support such instruments. KuCoin is also the first market player to introduce a USDT-dominated ETF product that marks specific underlying NFT assets. The new trading zone will make the best NFTs available to a wider range of investors looking to acquire blue-chip NFTs. In partnership with Fracton Protocol, KuCoin NFT ETF Trading Zone will first list 5 NFT ETFs covering hiBAYC, hiPUNKS, hiSAND33, hiKODA and hiENS4 as underlying assets as a start.
hiBAYC is an ERC-20 token representing 1/1,000,000 ownership of the BAYC target in the BAYC Meta-Swap of the Fracton protocol. The KuCoin NFT ETF Trading Zone will support hiBAYC token trading first, allowing users to have proportionally shared ownership of native blue-chip NFTs. In the future, KuCoin will launch more NFT ETFs in cooperation with the corporate department of Fracton Protocol.
The launch of the KuCoin NFT ETF Trading Zone gives the exchange a significant boost in its efforts to accelerate the establishment of a mature NFT market by lowering the investment threshold for high-potential and top NFTs in the crypto industry. Moreover, it also provides an exceptional trading experience with world-class liquidity, a better way to invest in top NFTs through direct purchase with USDT, instead of ETH, and without worries about managing NFT infrastructure elements, such as OpenSea, wallets and smart contracts .
KuCoin has long kept the NFT sector in particular focus, as evidenced by the April launch of Wonderland – KuCoin’s interactive NFT launch platform for crypto and traditional games. Wonderland allows users to enjoy a seamless and centralized experience in purchasing, investing and managing NFTs in the game. In the month of May, Windvane was launched, another NFT marketplace that offers NFT launch pad, NFT coins, trading, management and many other services.
Johnny Lyu, CEO of KuCoin, stated: “As a trading platform that maintains its penetration rate in the NFT sector, KuCoin will continue to provide user-friendly products for investors to easily participate in NFT investments. We are very pleased to become the first centralized crypto exchange to support NFT ETFs allowing users to easily invest and trade top NFTs directly with USDT. In the future, KuCoin will continue to explore more NFT related products for our users.”
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in the Seychelles. As a user-oriented platform with a focus on the inclusion and reach of community actions, it offers over 700 digital assets and currently offers spot trading, margin trading, P2P fiat trading, futures trading, staking and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investment through a pre-series B round, bringing total investment to $170 million with round A combined, for a total value of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the best crypto exchanges in 2021. In 2022, The Ascent named KuCoin the best crypto app for enthusiasts.
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