Coinbase Announces Plans For Its Own NFT Marketplace, Allowing NFT Minting & Purchase Among Users

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On October 13, Coinbase stated that it would join the world of non-fungible tokens (NFT) and will launch its own NFT marketplace. 

The cryptocurrency firm anticipates the launch of its new platform before the end of the year.

Coinbase NFT, a peer-to-peer marketplace, is a place where users will be able to mint digital assets, purchase and sell them, as well as display and search for other NFT digital assets to collect. 

https://twitter.com/coinbase/status/1448049855541100545

Coinbase’s new marketplace platform will initially support the Ethereum-based ERC-721 and ERC-1155 standards, with plans to extend support for additional blockchains in the future.

An NFT Platform Which Accessible To Anyone

The company said that it aims to create an NFT marketplace that is easy to use for everyone, with activities needing just a few mouse clicks to complete. 

In addition, Coinbase also believes that forcing consumers to go through a complex operational process would limit their potential to be innovative.

https://twitter.com/coinbase/status/1448062859322134529

“We’re making NFTs more accessible by developing user-friendly interfaces that conceal the complexity behind the scenes,” according to a blog post released by the firm.

Additional social features will be created to offer additional avenues for debate and discovery as Coinbase wants to further increase the creative community, which will benefit both artists and spectators.

Early Access Registration Now Open

Coinbase has now opened a sign-up page for anyone interested in getting in on the ground floor. They will be added to a waiting list for early access to the upcoming Coinbase NFT Marketplace when it opens.

Users or those interested in the features can sign up to a waitlist to be among the first to get access to them.

Sanchan Saxena, Coinbase’s Vice President of product and ecosystem, said that “coining, buying, displaying, and finding NFTs would be easier than before. We aim to accomplish the same for NFTs that Coinbase has done for Bitcoin, allowing millions of people to get access to Bitcoin for the first time in a simple and trustworthy manner.” 

In the meantime, it is anticipated that following its first launch, the Coinbase NFT marketplace would compete with OpenSea. Today, OpenSea is the biggest NFT marketplace.

With total sales of NFT reaching more than $10 billion between July to September 2021, this NFT craze will surely attract much more institutional moves sooner or later.

To date, Coinbase is the biggest cryptocurrency exchange in the United States.

Sign up today to get early access to Coinbase NFT, which will be available soon.

Read More: 

NFTs Provide Society  With ‘A New Way’ To Preserve Culture Through The Times, According To Animoca Brands CEO

CryptoBonds: The Inauguration of New NFT Asset Class In DeFi Ecosystem

DeFi & NFT Has Positive Outlook from Bank Of America And Highlighted As More Promising Than Ever

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