Coinbase NFT Marketplace is Finally Live: Will It Beat OpenSea?
If many NFT traders have lately been disappointed by Opensea’s security and have endured cyberattacks, a new promising marketplace for trading digital collectibles has just launched: Coinbase finally released its long-awaited social NFT marketplace. One of the top cryptocurrency exchanges will focus on creating a strong community for buyers and sellers with a beginner-friendly NFT trading platform.
“This product is more than just buying and selling. It’s about building your community. It is about making sure that you can connect and engage with them on the platform,” said Sanchan Saxena, vice president of product for Coinbase.
Over six months ago, Coinbase officially announced its development of a peer-to-peer NFT marketplace. The company wrote: “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.”
‘Coinbase NFT’ is currently in beta mode – only a selected number of invitees from a waitlist are allowed to use the platform. All the available collections are minted on Ethereum, but soon more blockchains will be added.
Some features seem to be missing on the platform, such as trait filtering and time listings. However, there are no fees (for a limited time), the website is easy to use, and there’s a section for discovering new collectibles. The number of registered 90 million Coinbase users seems to draw a bigger audience into NFTs.
Unlike other trading platforms, Coinbase NFT plans to allow a commenting section on each of the digital collectibles. While some can regard it as a productive feature, the site could experience a large quantity of spam.
The Web3 social platform plans to add additional drops, minting, and token-gated communities and will enable payments with a Coinbase account or a credit card. Most importantly, Coinbase aspires to decentralize its features “by moving them from Coinbase tech to decentralized solutions.”
Read related posts:
- Nobody is using Coinbase’s NFT market
- MetaMask to integrate Coinbase Pay
- Bored Ape Yacht Club and Coinbase to Craft an Interactive Movie Trilogy
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
More articles
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
