A beta launch of the new Coinbase NFT platform has been released, with many popular NFT collections listed to buy and trade via Coinbase.
General access is being rolled out soon and interested NFT traders and artists are being invited to open a Coinbase wallet to receive an invite code.
Coinbase’s NFT marketplace is simply called ‘Coinbase NFT’, similar to Binance NFT.
Coinbase NFT Platform
The separate Coinbase NFT website can be found at nft.coinbase.com.
A message reads ‘all the hottest NFT collections are on Coinbase NFT’ and the most successful NFTs are featured including the Bored Ape Yacht Club, Mutant Apes and upcoming collections such as:
Cheaper NFTs are also available to buy, currently there are dozens of NFTs with a floor price of 0.01 ETH or lower.
For a limited time there are no fees for trading on the new Coinbase NFT marketplace.
Social Media NFT Engagement
Similar to eToro, Coinbase is focusing on a social trading setup to connect investors and traders. Users will be able to create online profiles and have a personalized feed similar to on social media platforms like Facebook (Meta) and Instagram.
Rather than only buying and selling NFTs alone, they’ll be able to comment on NFTs and engage in other ways. Coinbase product and ecosystem VP Sanchan Saxena stated:
‘While it is true that buying and selling NFTs is a big part of the ecosystem today, what we have learned by talking to many customers and creators is that there is more to it than just buying and selling. There is the community aspect of it.’
Crypto Exchange NFT Marketplaces
Alongside the best NFT marketplaces like Opensea, Rarible and Looksrare, many crypto exchanges have launched their own marketplaces, such as:
Launched in 2012, Coinbase has upwards of 89 million verified users in 100+ countries, and is also used by 11,000 institutions to buy crypto, contributing to a quarterly trading volume of $547 billion.
Finally entering the NFT scene with their own non-fungible token marketplace should give the NFT and overall crypto markets a boost in 2022. Millions of users had joined the waitlist to be informed of Coinbase NFT’s launch.
Cryptoassets are a highly volatile unregulated investment product.