Trading News

Read The Latest News & Analysis

Coinbase NFT Marketplace Launched in Beta Mode

Coinbase NFT Marketplace Launched in Beta Mode
Share on:

The biggest US-based cryptocurrency exchange is now dipping its toes in the NFT world. Coinbase NFT marketplace went live on Wednesday, April 20th.

NFT enthusiasts can now use Coinbase to access and trade their digital collectibles. For now, all Ethereum-based collections are available with more blockchains coming soon.

Coinbase is among the largest crypto exchanges in the world with around 89 million users. It has digital funds worth $278 billion and quarterly trading volume amounting to $547 billion. The exchange announced plans of launching the NFT marketplace six months ago and finally today Coinbase NFT has launched its beta mode.

A number of interesting digital collectibles including Doodles and World of Women are being showcased since the launch.

Also Read: The QR Code Advertisement

NFT product lead at the exchange Alex Plutzer said during the press conference, “We’ll cycle these [collections] out over time to help introduce people to awesome NFTs on the platform, especially for people who aren’t as familiar with NFTs.”

At the time there is no transaction fee for trading NFTs on Coinbase. Nonetheless, the platform will start charging a small fee over time. You can use Coinbase wallet or any other self-custody wallet to trade NFTs.

Coinbase NFT is another addition to the already sprouting NFT marketplaces. But unlike others, the platform plans to implement a “web3 social marketplace”. Users will be able to buy, sell, and engage with creators, collectors, and the community around the NFTs.

Coinbase anticipated adding more features such as NFT drops, minting and token-gated communities, and the option to buy NFT using a Coinbase account or credit card. It also plans to partner with artists globally to launch new art pieces on the platform.

Recent News

crypto market

South Korean Parliament has Summoned Do Kwon Following LUNA Crash

Terra LUNA saga continues as the South Korean government takes its own measures to take a look at the situation National Assembly has summoned both DO Kwon and Korean exchanges

crypto market

It is Not Just You, Crypto Billionaires have Lost a Huge Fortune Too

Bitcoin is down and crypto portfolios of small investors have taken a hit But if it gives any consolation, the fortunes of crypto billionaires have also been slashed 50-60% in

crypto market

Binance Suspends LUNA Trading After Unprecedented Decline

Crypto Winter is here Around 800 billion dollars are wiped out of crypto markets as a result of the declining value of bitcoin and other cryptocurrencies Worst fate has befallen

crypto market

Binance Curbs Services in Russia

Binance started deactivating traders’ accounts from Russia in light of the European sanctions on the country The major clients from Russia will no longer be able to use

Let's Chat