Coinbase Reveals to Inaugurate Its Own NFT Marketplace Soon

Coinbase Reveals to Inaugurate Its Own NFT Marketplace Soon

  • Coinbase plans to launch an NFT marketplace soon.
  • The exchange will set up a gateway to sell, buy and showcase user’s NFTs.
  • Almost 2.5 million people have already joined the NFT waitlist.

Coinbase, the most popular and top second cryptocurrency exchange in the world is now announced to launch its own NFT marketplace soon. Further the crypto exchange is spiking up resulting its daily trading volume is more than $3 billion. 

Through this innovative launch, Coinbase NFT will be a peer-to-peer marketplace for minting, purchasing, showcasing, and discovering NFTs. Thus, it is very clear non-fungible tokens (NFT) are also booming in recent times, where ‘n’ number of unique NFT projects is rising high, attracting large users.

Coinbase NFT marketplace

Moreover, the crypto exchange released its first official announcement of the NFT marketplace in October 2021. After the announcement, almost 2.5 million people have already joined and are part of the Coinbase NFT waitlist. Significantly, in the preparation of setting up, Coinbase initiated to meet over 100 content creators to work in integrating their new NFT marketplace. 

Notably, till now there is no proper clarity of when the marketplace will be in place. But, this NFT marketplace will be a great asset for Coinbase to compete with other prominent NFT marketplaces including OpenSea and Rarible.

Already being popular and profitable in the market, Coinbase NFT will be an additional gateway to gain more users to sell, buy and expose their NFTs as well . Most importantly, the CEO of Coinbase Brian Armstrong shared that the entire Coinbase team believes that the launch of the NFT marketplace will serve as a bigger business than its cryptocurrency exchange. 

Besides, when Coinbase revealed its first announcement in the last year, NFTs were facing some downtrends performing in the red margins. However the last 3 months of 2021 gained some attractions, raising the search volume for ‘NFTs’. As per the Google Trends, the word “NFT” is dropping down and serving at a lowest point in this month. The overall score was 42 earlier in March. 

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