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Home Crypto News Exchanges Coinbase Is launching Its Own NFT Marketplace

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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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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