Coinbase NFT Is Open For Beta Version Testing To A Select Group Of Users

2022-05-05 01:17:44

The leading exchange by trading volume in the US, Coinbase, announced that the beta version of the much-anticipated Coinbase NFT (non-fungible marketplace) is finaly open to testing to a select group of users. This news come after the company announced back in late march that the marketplace will be ready soon, not revealing any further specific details about the project.

Moreover, in the first week, the marketplace recored 73 Ethereum (ETH), or $210.000, which consequently come from the total of 900 crypto transactions. However, Coinbase is still to reveal the exact number of users with access to the beta version of the marketplace, which kinda makes it difficult for the crypto community to get a clear picture.

Regardless, Coinbase intends to seriously go after the non-fungible token market, and conted giants such as OpenSea and Decentraland.According to Sanchan Saxena, the vice president of products at Coinabase, one of the ways the company wants to use in order to dominate the NFT industry, is by offering no fees on the transactions in the first couple of months after the official launch.

Furthermore, another strategy that Coinbase will use is partnering with popular names in the non-fungible token industry. One such example, is the already established partenrship with the Bored Ape Yacht movie trilogy, which is scheduled to debut in June 2022, in New York.

With the ongoing beta version testing still in motion, it it will be interesting to observe whether the Coinbase NFT marketplace will become as successful as the numbers suggest, or whether Coinbase will produce a detailed report of the testing.

Especially since that up to this point, there are more than 2.5 million registered users for the Coinbase NFT which are eagrly anticipating for the exact launch date of the final version of this NFT marketplace.

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