The Long Anticipated Coinbase NFT Marketplace Is Coming 'Soon'

2022-03-17 00:37:19
Still In The Making

The largest crypto exchange in the U.S. by trading volume, Coinbase, revealed that the very anticipated Coinbase NFT marketplace is coming ‘soon’. In fact, Coinbase posted on Twitter from the official account of Coinbase NFT, which only further confirms that the company is very close to launching its own marketplace.

Moreover, as part of the tweet, Coinbase NFT revealed that the company collaborated with more than 100 content creators in order to create a platform that is ‘based on public feedback’.

The goal is to create a user-friendly marketplace that will offer several groundbreaking features that are going to be exclusive for Coinbase NFT only, and consequently enable the users a significantly improved interaction.

One of the most exciting features is expected to be the new ‘social function’, which is said to be one of the biggest innovations of the project. which according to the crypto exchange, it will change the way artists and NFT users communicate on the marketplace.

The CEO of Coinbase, Brian Armstrong, believes that NFTs definitely have the potential to be bigger even than crypto and that Coinbase intends to utilize this popularity by offering a social platform that is based on the models of Facebook (Meta) and Instagram.

We are very excited about NFTs, this is going to be a very large area for crypto in the future, and it already is today.Brian Armstrong | CEO - Coinbase
Already More Than 2.5 Million Accounts

Coinbase NFT is one of the most anticipated marketplaces in recent times, up to such extent, that there are currently more than 2.5 million registered users on this yet to be released NFT platform. And this is in only 5 months since the revealing of the project.

Furthermore, if we take a look at OpenSea, one of the biggest rivals of Coinbase NFT and one of the biggest marketplaces in the world, it is clear that there is a rather significant decrease in both active users and NFT transactions.

In addition to the 15% decline in these sectors, OpenSea also reported a concerning decrease of transaction volume by 42.65% for the past 30 days.

The reason for these low numbers can be traced to the current economic crisis, i.e. the mounting inflation. And considering that this affects pretty much every country in the world, it is definitely no surprise that NFT users are currently ‘hibernating’.

Yet, regardless of the current climate, users are quite excited and are looking forward towards the marketplace of Coinbase NFT , especially since the company says that we should expect a completely revolutionized non-fungible token marketplace.

 

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