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Coinbase Is launching Its Own NFT Marketplace

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Coinbase announced the launch of a marketplace for Non-Fungible Token (NFTs).


 

 

 

In the Coinbase NFT marketplace, users will be able to buy or sell NFTs. Coinbase has also stated that it will incorporate “social features” and touted its platform as being more user-friendly than other platforms.

Coinbase Blog Writes:

“Today, we’re announcing Coinbase NFT, a peer-to-peer marketplace that will make minting, purchasing, showcasing and discovering NFTs easier than ever. Just as Coinbase helped millions of people access Bitcoin for the first time in an easy and trusted way — we want to do the same for the NFTs.

We’re making NFTs more accessible by building user-friendly interfaces that put the complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery. And we’re going to grow the creator community exponentially, a win for artists and for fans.”

 

Coinbase has two strong competitors Binance and FTX. Binance as well as FTX both recently created their marketplaces for NFT. However, these exchange NFT marketplaces are just grumps in comparison to OpenSea which holds 97 percent of the NFT market. In the past month, OpenSea facilitated nearly $2.8 billion worth of NFT transactions, as per DappRadar.

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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