Coinbase has announced the launch of its non-fungible token marketplace (NFT), which is available in beta. For now, only a handful of users, who were on the waiting list, can experience its new features.
The new Coinbase NFT marketplace
The American giant Coinbase announced on Wednesday that its new marketplace dedicated to non-fungible tokens (NFT) was online. Anyone can visit, but only a handful of users who were on the waiting list can experience the platform’s new features.
ATTN: INTERNET
Our beta is officially live!
Today we kick things off with a full-access experience for some of our waitlist frens. As we ramp up, everyone can explore the vast collection of NFTs on the first version of Coinbase NFT.
Check it out → https://t.co/gJxOOi8P15 pic.twitter.com/wYx3z3d14x
– Coinbase NFT (@Coinbase_NFT) April 20, 2022
Before allowing access to everyone, the marketplace will gradually expand the circle of users according to their ranking in this waiting list, which was set up this autumn.
For the time being, and for a limited period of time, Coinbase has informed that no transaction fees (excluding gas) will be applied to the buying and selling of NFTs. A strategy that consists in a sort of call price to bring people to discover the latest addition to an already very competitive sector.
The features on offer
With this new platform, Coinbase aims to provide the best possible user experience:
“We’ve learned that people don’t just want better tools to buy and sell NFTs: they want better ways to discover them, better ways to find the right communities, and better spaces where they can feel connected to each other. “
One of the interesting proposals we find is this community dimension, thanks to a comment system allowing to express oneself under each item listed for sale. For the rest, the general presentation remains very similar to what we find elsewhere.
Although Ethereum (ETH) is currently the only network available, other blockchains will soon be added, as well as the possibility of paying by credit card directly. It should also be noted that Coinbase can connect with any non-custodial wallet, not just their own.
If Coinbase already has a certain reputation as an exchange, it is attacking an already saturated market, but whose youth leaves the door open to new value propositions.
While Brian Armstrong’s company sometimes seems to be overtaken by other giants such as Binance or FTX, the NFT sector could perhaps allow it to reshuffle the deck, although the challenge is considerable.
