Coinbase NFT marketplace is live!

Coinbase is an American cryptocurrency exchange company. It is the largest cryptocurrency exchange in the U.S. founded by Brian Armstrong and Fed Ehrsam in 2012. Users can buy, sell and trade everything from Bitcoins, ETH, and Solana to meme coins like Dogecoins. The platform gained popularity with its simplistic onboarding experience, friendly design, and educational approach to demystifying cryptocurrency. 

With over 89 million users, Coinbase has launched many products over the years and today is another leap forward with its NFT marketplace. They announced the project over a year ago, working behind the scene with collectors, creators, and the community. A big focus of the project is to not only have tools to buy and sell NFTs but a way to discover and foster communities for a more connected experience- “a Web3 social marketplace for NFTs”.

The beta is currently live, nft.coinbase.com, it is currently a small group of invite-only but everyone else can explore their portal to know what to expect. Users can create a Coinbase NFT profile to buy and sell NFTs with any digital wallet they have or use a Coinbase Wallet. Yes, singularity is coming. As part of the big launch and attracting new users and collectors, there is a current limited time of no transaction fees. 

With communities as one of its biggest targets, Coinbase NFT builds many features that provide social media functionalities that help promote users, their collection, and their stories. These features are similar to what we are familiar with on social media platforms.

Many current collections are based on the Ethereum blockchain. You can find popular projects from Doodles, Azuki, and Boss Beauties. They’ve announced a program to help creators to break into the scene. Look forward to that in the coming months. 

The product currently seems overly simplistic but that’s always Coinbase’s approach to user experience, where they don’t want to overwhelm consumers and slow-release or introduce new features in the future.