Coinbase has just announced that it will be launching its NFT marketplace… “soon.”
On March 14th, Coinbase NFT – Account for Coinbase’s upcoming NFT Marketplace – Posted On its official Twitter account that its team met with over 100 content creators to work on the launch of their new NFT marketplace.
However, as of now, there is no official launch date. What is clear is that the market will be launched in the near future and will have many tools and innovations that are not offered by the competition.
Coinbase wants to innovate in the NFT industry.
According to Coinbase, its main difference will be the new “social function” with which they seek to improve the interaction between artists and users, allowing them to build a community of creators who are poised to grow rapidly.
Coinbase CEO Brian Armstrong recently stated that the NFT market may eventually surpass cryptocurrencies, which is why they are in the process of creating a marketplace that offers a more immersive experience like social networks like Instagram or Facebook.
“We are very excited about NFT, it is going to be a huge area for crypto in the future, and it already is today,”
Coinbase NFT has already received over 2.5 million registrations from users waiting list to join the platform, just 5 months after its announcement.
Coinbase NFT’s biggest competitor, OpenSea, has seen a 15% drop in both internal transactions and active users over the past 30 days, according to data from DappRadar. Even the trading volume decreased by 42.65%. So maybe it’s not a bad time for Coinbase to launch its new platform.
Coinbase wants to get in on the NFT game.
The new Coinbase NFT marketplace was announced last October 12, 2021, raising high hopes among the community since then, as the backing of the largest exchange in the United States allows the platform to directly compete with other titans such as OpenC, Rarible, NBA, and more. will be placed in competition. Top Shot Marketplace, Binance NFT, Crypto.com etc.
An important fact to consider is that Coinbase has positioned itself as a leader in the cryptocurrency market over the years by complying with all legal regulations imposed by the US government, which could translate into a direct advantage over the competition.
So, although Coinbase has not yet announced a specific date for the launch of the new NFT platform, it is quite possible that once it is launched, it will attract a lot of artists and users who are just waiting for the competition.” loyal”.
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