Kraken, a prominent crypto exchange, announced its decision to close its NFT marketplace by February 27, 2025. This move comes as the company aims to reallocate resources towards other business ventures. Despite a recent uptick in NFT transaction volumes, the industry has faced a downturn over the past five months. Kraken's marketplace, operational since November 2022, will cease listing, bidding, or selling activities after November 27, 2024, though users can still withdraw assets. This strategic shift highlights Kraken's focus on developing new products and services.