A Coinbase NFT marketplace will launch soon as the exchange revealed that it met with hundreds of creators to work on its upcoming marketplace so let’s read further in today’s latest coinbase news.
Coinbase announced that it will launch its marketplace soon and it posted on the official Twitter account that the team met with more than 100 creators to work on the launch of the new marketplace. So far, there’s no official date but what’s clear is that the marketplace will be launched in the near future and will feature plenty of interesting tools and innovations that are not offered by the competition.
According to Coinbase, the main difference will be the new social function that will seek to improve the interaction between users and artists allowing them to create a community of creators and grow further. The CEO of Coinbase Brian Armstrong said that the NFT market can surpass one of the cryptos which is why they are focusing on creating a marketplace that will offer an immersive experience like one of the social networks of Facebook 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.”
The Coinbase NFT marketplace will soon launch while the NFT already recieved more than 2.5 million registrations from users on the waiting list to join the platform after a few months that it was announced. According to DappRadar statistics, the biggest competitor to Coinbase is OpenSea with a 15% drop over the past 30 days in internal transactions and active users. The transactional volume dropped by 42.65% so maybe it is not such a bad time for Coinbase to launch its new platform.
The new Coinbase NFt marketplace was announced the last year and raised high expectations among the community since then as the backing of the biggest exchange in the US will put the platform in direct competition with other giants like Rarible, OpenSea, NBA Top shot, Crypto.com, and more. Another important fact to consider is that coinbase has positioned itself for years as a leader in the market by complying with legal regulations that were imposed by the American government. Although Coinbase hasn’t yet announced a date for the launch of the new NFT platform, it is possible that once launched, it will attract a lot of artists.
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