New NFT market for Kraken cryptocurrency exchange problem loans.

Kraken founder and CEO Jesse Powell recently told Bloomberg News that cryptocurrency exchanges will begin trading on NFT, allowing users to borrow with NFT.

Powell explained that the company plans to attend the NFT conference in early 2022 and hopes to expand its capabilities to determine the value of NFT and whether it can be used to market products for rent.

“If you want to invest in cryptopunk at Kraken and use it for loans, you want that cost reflected in your account,” Powell said.

However, the cost of NFTs varies, and only a few token holders have high-value digital devices like CryptoPunk. The starting price for press time is 66.9 ETH, or roughly US $ 273,673.

According to Powell, the value of NFTs will explode next year.

"The first step is thinking, the second step is buying and supporting performance, and the third step is using NFT work."

Kraken also recently acquired Staked, a real estate developer that accepts illegal cryptocurrencies and aims to attract new investors. Kraken users can now reap crypto rewards and rewards while managing their digital assets.

Kraken was established in 2011. According to data from CoinMarketCap, it has grown into one of the largest exchanges in the world, at the top of commodity support, packaging market and digital asset management.

Kraken reports that NFT-based lending has become more mainstream as DeFi platforms like Arcade and Nexo have started offering these new lending models. As Cointelegraph recently reported, Arcade finalized a $ 15 million funding round in December, which will be used to create products and attract more investors to its NFT platform.