Kraken's NFT marketplace is closing its digital doors, just a year after its grand opening. ๐ŸŽ‰ Starting November 27, the platform will enter a withdrawal-only mode, giving users three months to move their NFTs. Kraken plans to redirect its energy into exciting, undisclosed projects.

Despite a splashy debut with 250 collections and no gas fees, Kraken faced stiff competition from OpenSea and Blur. Meanwhile, the NFT market has been on a rollercoaster, with OpenSea's trading volume dipping 27% in August. Kraken's legal tango with the SEC adds another twist to this crypto tale.