⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Coinbase to Launch its NFT Marketplace Later this Year

Published 10/13/2021, 08:34 AM
Updated 10/13/2021, 09:01 AM
Coinbase to Launch its NFT Marketplace Later this Year
ETH/USD
-
COIN
-
SOL/USD
-

  • Coinbase (NASDAQ:COIN) has announced the launch of its NFT marketplace.
  • Coinbase will be one of the major crypto exchanges to get into the NFT craze.

The world’s largest crypto exchange Coinbase has announced in a blog post the launch of its non-fungible token (NFT) marketplace later this year with a waitlist.

According to Coinbase Vice President of Product and Ecosystem, Sanchan Saxena explained that the Coinbase NFT marketplace would let their users mint, purchase, discover, and showcase digital collectibles.

Saxena adds,

All NFTs are on-chain. The initial launch will support Ethereum based ERC-721 and ERC-1155 standards with multi-chain support planned soon after. We’ll provide the best user experience, but we’ll never lock creators in.

In the blog post, Saxena also notes that the NFT marketplace will allow creators to control and display their NFTs via decentralized contracts and metadata transparency.

Furthermore, he asserts that the crypto exchange aims to make NFTs more accessible by building user-friendly interfaces, making them easy for users.

Aside from this, Saxena also declared that they are opening the social services that open new avenues for discussion and learning. And they will grow the creator community.

What’s more, he also mentioned that Coinbase NFT would be a peer-to-peer marketplace that empowers creativity and the Coinbase NFT platform puts the art and artist’s experience at the lead with an intuitive design built on top of a decentralized marketplace.

Once the project goes live, Coinbase will be one of the major crypto exchanges to get into the NFT craze. Recently, FTX launched its NFT marketplace that allows users to trade NFTs cross-chain through the Ethereum and Solana blockchains.

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.