THELOGICALINDIAN - The barter has implemented a 500 fee to avert spammers
Leading crypto barter FTX has launched an NFT advertisement service. However, due to a ample cardinal of spam submissions, the barter is now charging a $500 fee.
Users List NFTs on FTX
FTX is acquisitive to capitalize on the contempo NFT hype, but it isn’t activity as planned.
CEO Sam Bankman-Fried announced in a cheep Monday that FTX has launched an NFT advertisement service. Users can now accomplish their own NFTs and account them for auction on the exchange’s marketplace. All NFTs on FTX will be cross-chain compatible, acceptation that users can alteration them to both Ethereum and Solana, the two arch blockchains for NFT creation.
However, hours afterwards the affection went live, Bankman-Fried took to Twitter afresh to acquaint users that there would now be a ancient $500 fee to account NFTs due to boundless amounts of spam.
The FTX CEO said he absitively to apparatus a fee “due to the massive cardinal of submissions, too abounding of which were aloof a account of a fish.”
In response, abounding ambitious NFT creators complained about the aerial price, pointing out that minting an NFT anon on Ethereum would amount beneath in gas than what FTX is now charging. Bankman-Fried addressed the amount in a follow-up tweet, acceptable users that the barter is alive on a appraisement arrangement that makes advertisement NFTs cheaper while abbreviation spam.
FTX is bound affective up the ranks of centralized crypto exchanges. The Hong-Kong based barter fabricated headlines in July back it bankrupt a Series B allotment round, which admired the aggregation at over $18 billion. Since then, FTX has connected its advancing announcement campaign, afresh striking a 10-year, $17.5 actor allotment rights accord for the University of California’s football field.
Update: Since implementing the $500 fee, FTX has bargain the amount to actualize NFTs to a collapsed $10 per mint. The barter has additionally refunded anybody who paid the antecedent $500 fee.
Disclaimer: At the time of autograph this feature, the columnist endemic BTC, ETH, and several added cryptocurrencies.
