Coinbase launches its own NFT marketplace (in beta)

In October of last year, Coinbase announced its desire to expand its offering by leveraging the NFT (Non-Fungible Token) with a clear intention to follow a trend that, despite the decline recorded in recent months, is still considered by analysts to be very promising.

The intention was particularly expressed by a Dedicated market for exchange. A project that has finally come to life, and naturally arouses great interest given the weight the company bears on the global crypto scene.

In fact, the platform section has been activated, at the moment only in Trial versionReserved for a limited number of users. Within the market, several NFTs launched on the Ethereum blockchain are available and beta testers will be able to access them by creating a Coinbase NFT profile thanks to which they will be able to buy and sell using the custodian wallet, starting with the Coinbase wallet.

This was announced by Sanchan Saxena, who holds the position of VP Product, the producer of the ecosystem within the exchange, in a post on the blog of the largest US exchange platform.

Among the information provided in connection with the process, those according to which at least In the first stage of the experiment there are no commissions on completed transactions. It was the exchange platform itself that pointed out this not quite a secondary detail. Relevant costs will come later, but at least in current intentions they should not deviate excessively from those of the market and especially from Web3 standards.

In the meantime, anyone who wishes to participate in the beta phase can log in to Coinbase NFT by subscribing to Waiting list which has been prepared (WHO), then wait your turn. Of course, users at the top of the list will get beta tester status, although the audience will expand over time.

However, the approved slogan for the initiative has already been defined: Create, collect and connect. The express intent is to give life to a real community, dedicated not only to buying and selling tokens, whether they are redeemable or not.

What beta testers can do on Coinbase’s NFT Market

As mentioned earlier, Coinbase’s announcement immediately sparked a lot of curiosity, considering the importance that non-fungible tokens now attach to. It’s probably the first question many will ask themselves what can he do, Exactly, by enrolling in the program. Specifically, beta testers will be able to:

  • Create a profile to show your NFTs, similar to Instagram, but with non-fungible tokens instead of photos;
  • follow other users’ profiles and participate in public conversations;
  • Check NFTs for sale. Moreover, the platform will offer personalized advice in order to speed up searches thanks to the use of specific algorithms;
  • View artists’ accounts with their username, links to other social networks and NFTs sold in the market on their smartphones;
  • Buying and selling NFTs. In order to structure the initial offering, Coinbase decided to involve important content creators, such as Doodles, Boss Beauties, and Azuki, in the project.

More news waiting

Coinbase has also announced some news that will arrive during Next weeks. Among them, in particular:

  • the possibility of purchasing NFTs also through a Coinbase account or using a credit card (in this sense, it must be remembered that cooperation with Mastercard has already been formalized in the past weeks);
  • Support drop (loans) and mint (one post for NFTs on the blockchain);
  • The ability to manage NFTs from other blockchains in addition to those created on Ethereum.

The market is another step of the platform in the direction of increasing the performance of services for its users. A line that was vigorously explained already in March, with Coinbase Pay adding to the tools its customers can use.

All that remains now is to wait for the registrations and the actual Coinbase initiative, to better understand its actual impact, at a time when the NFT market is showing significant activity, but also Fruits are not quite as exciting compared to predictions.

In any case, if you are interested in the services offered by Coinbase, here is a file relative correlation For registration, with a bonus of 10 euros in BTC

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