Kraken announced the closure in late November.
Kraken users have until early next year to transfer their NFTs from the marketplace into a crypto wallet.
What’s happening with Kraken?
The exchange posted on its site that it was looking to shift its resources to new products and services.
Late last year, theSEC charged Krakenwith allegedly operating as an unregistered securities exchange.
Krakendisputes the charges, and the case has yet to be resolved.
Kraken’s NFT marketplace closure comes as the prices for some cryptocurrencies have risen in recent weeks.
The price of bitcoin, the most well-known cryptocurrency, topped $100,000 onDec.
Only a couple years ago, many popular NFTs saw a heavy drop in price.
What should you do if you have NFTs on Kraken?
After the deadline, you won’t be able to access your NFTs on Kraken’s marketplace.
The company website has a page that explainshow to transferthe NFT into it.
Should I invest in NFTs and cryptocurrency?
Both NFTs and cryptocurrency can be highly volatile, often experiencing large price swings in short amounts of time.
So, NFTs and cryptocurrency can be considered a high-risk investment.
Investment experts stress never to invest more than you’re willing to lose.
Kraken did not immediately respond to a request for comment on this story.
