Subsequently witnessing the parabolic growth of the nonfungible token (NFT) ecosystem since the plough of the yr, popular cryptocurrency exchange FTX has become the latest crypto platform to denote the launch of a native NFT marketplace.

Exclusive for U.s.-based customers, the platform will enable users to mint, purchase and sell NFTs — all traded cross-chain across the Ethereum and Solana blockchains. Deposits and withdrawals are too expected to be launched in the coming weeks, opening upwardly the adequacy of depositing external NFTs onto the platform.

In a public brandish of the new feature, the commutation has launched a word-art fashion image that simply reads "Exam." The image has a current bid of $1,100 and a remaining time of xix hours.

In an interview with CNBC's Street Signs Asia two weeks ago, FTX founder Sam Bankman-Fried expressed caution over the rapid growth of the NFT infinite, suggesting that investors could become susceptible to vulnerability in such a dynamic market if improperly educated on the potential risks:

"Information technology could lead to just incredibly fast and giant adoption. It could also atomic number 82, frankly, to sort of a sour taste in people's oral cavity if there's a crash, and no one e'er quite figured out what it was."

FTX isn't the only crypto exchange to co-operative into this space during 2022. Direct competitor Binance launched its own NFT marketplace in June with a special "100 Creators" project in collaboration with the likes of soccer players Michael Owen and Alphonso Davies, likewise as singer-songwriter Lewis Capaldi and artist Trevor Jones.

Related: FTX's Bankman-Fried remains cautious about nascent NFT infinite

Crypto spot and derivatives exchange OKEx has also launched an NFT hub recently, assuasive users to mint, buy and sell their NFT assets within the exchange's native ecosystem.

Terminal calendar month, OpenSea became the first NFT marketplace to surpass $1 billion in monthly trading volume.

According to current data from DappRadar, the platform as well recorded a stratospheric $4 billion in sales volume over the concluding thirty-mean solar day menstruation, obliterating its nearest competitors, Axie Infinity and CryptoPunks, with $790 million and $583 million, respectively.

Research platform Dune Analytics reported that full sales volume for NFTs rose to $2.5 billion across the first half of 2022 compared to $xiii.7 1000000 in the showtime one-half of 2022.