Kraken CEO Jesse Powell Says Crypto Exchange Eyeing Up Metaverse and Virtual World Ecosystem


The CEO of crypto exchange Kraken says that it’s working on creating a new non-fungible token (NFT) platform as it monitors the blossoming metaverse sector.

In a new interview with Bloomberg Technology, Kraken chief Jesse Powell says that the rising popularity of NFTs and virtual worlds this year is something the exchange has noticed and plans to get ahead of.

“We’re working on an NFT platform right now to give investors exposure to the burgeoning NFT market.”

According to Powell, the metaverse is only going to get larger as NFTs become badges denoting memberships to specific virtual clubs.

“We’ve seen a tremendous amount of activity recently around NFTs that are related to various metaverses, basically virtual worlds, so anything regarding land in a virtual world, or items that exist in a virtual world, digital clothing you can take across virtual worlds, they often present proof of membership in a virtual club.

We think this is going to get to be a bigger and bigger thing and we want to be in front of that for people.”

Looking at Bitcoin, Powell says it’s possible that the king crypto dips below $40,000 again, and if it does, it would just be another buying opportunity for BTC bulls.

“A lot of people see anything under $40,000 as a buying opportunity. I was personally buying when we dipped back close to $30,000 a few months ago. I think a lot of people have some dry powder waiting on the sidelines waiting to come back in at rock bottom prices.”

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