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Coinbase to Launch its NFT Marketplace Later this Year

Coinbase to Launch its NFT Marketplace Coinbase News
  • Coinbase 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.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.