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Nifty News: Kraken NFT exits beta, Coinbase’s ‘Stand with Crypto’ gains support and more

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Nifty News: Kraken NFT exits beta, Coinbase’s ‘Stand with Crypto’ gains support and more

A Bitcoin inscription service aims to compete with Ordinals by offering smart contracts and larger file sizes.

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Kraken NFT marketplace exits its beta phase

Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted it had expanded its number of NFT collections from 70 to over 250. According to Kraken, it will continue adding more collections to its marketplace. 

Aside from the collection expansion, the firm also announced it had added support for the Polygon Network, highlighting that the popular Reddit Collectible Avatars will now also be supported by the marketplace. 

In the announcement, it said it would not be charging gas fees to its users when buying or selling NFTs on the platform. However, in a disclaimer at the bottom of the post, the marketplace noted that gas fees will still be incurred when transferring assets on and off its platform.

Coinbase’s ‘Stand with Crypto’ NFT campaign gains community support

As the United States Securities and Exchange Commission (SEC) targeted crypto exchange Coinbase in a lawsuit, community members have started to show support for the trading platform by minting its Stand with Crypto NFTs and putting the shield badge on their Twitter profiles. 

In April, when the collection was launched, the NFTs only had 15,000 mints and 7,000 owners, according to NFT marketplace OpenSea. Now, the collection has over 142,000 mints and more than 52,000 owners, with more users minting the NFTs as the exchange’s legal battle with the SEC intensifies. 

Many also expressed support for the move by tweeting the shield badges on Twitter, with some even sharing artworks with Coinbase shields.

Related: SEC lawsuits against Binance and Coinbase unify the crypto industry

Bitcoin NFT inscription project allows larger file sizes

Bitcoin ecosystem project New Bitcoin City aims to compete with Bitcoin Ordinals by offering smart contracts and larger file sizes. According to the project, files inscribed through its “Inscription Village” can exceed 4 megabytes (MB), the limit for Ordinals inscriptions.

The platform highlighted that an Azuki Spirit DAO wallpaper with a file size of 6.9 MB had already been inscribed on the Bitcoin blockchain in May.

Ex-Oasis musician turns to NFTs amid chart battle with Foo Fighters

Noel Gallagher’s High Flying Birds, the former Oasis member’s new band, is competing with rock band Foo Fighters for the top spot on the Official UK Album Charts. However, Gallagher has pulled an ace out of his sleeve — NFTs. 

Gallagher’s band released a new album called Council Skies on June 2, the same day as the Foo Fighters released an album called But Here We Are, which is the band’s first release since the tragic death of band member Taylor Hawkins. The two are locked in a battle for the number one spot, with Gallagher turning to NFTs in an attempt to boost album sales.

On June 7, NFT platform Serenade announced it is offering unique “Digital Pressings” of the High Flying Birds’ new album. The release includes a full audio playback of the album and what it described as a “public stamp of ownership” on the blockchain.

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