After opening registration for users in 2021, the company recently announced the launch of a beta version of Coinbase’s NFT marketplace for customers to use.
Coinbase Global Inc, the largest cryptocurrency exchange in the United States, today announced the launch of Coinbase’s beta NFT exchange to a group of registered users in October 2021. April 20 has been completed.
Coinbase Beta NFT Market Announces No Trading Fees
Coinbase’s beta version of the NFT marketplace opened to registered users last year. The Ethereum blockchain network is now officially open for trading, collecting Non-Fungible Tokens (NFTs) such as Doodles, Azuki, World of Women (WOW), and Where My Vans Go, among others. Users of crypto wallets such as Coinbase Wallet, MetaMask and even Rainbow will also be able to trade their digital portfolios on the platform.
The organization has also stated that it will not charge transaction fees during the testing of the system. Moreover, trading fees are shockingly low. Of course, the strategy was designed specifically for the purpose of competing with the standards of the digital industry. The company has partnered with 0x Protocol to explore all options. To help drive this NFT market attractive to a wide range of users.
Coinbase Wants to Become a Leading Crypto Hub
Coinbase’s decision to launch the NFT marketplace was driven by its commitment to further expanding its services. to create a new crypto community More than just an art trading service and general collectibles Even knowing that there are many well-known leading players who are fiercely competing in the industry, including OpenSea, Rarible, LooksRare and other platforms, among others.
Coinbase Chief Product Officer Sanchan Saxena said about the launch of the new project:
“Coinbase is creating a marketplace that will allow customers to buy and sell NFTs where all users will be able to engage with artists. and the collectors as well as getting to know other users within our community as well. This strategy is considered one of the most important achievements.”
Coinbase CEO Brian Armstrong also spoke at a forum held on November 9, 2021 of his belief in the big project.
“We are very excited about the company’s new NFT project. As the platform can become a huge space for cryptocurrencies in the future … this new marketplace will be a bigger project than any other Coinbase has ever undertaken. come”
Coinbase’s beta version of the NFT market has always been well received.
Although the trend for NFT assets has been declining since late 2021, people were 10 times more interested in news of Coinbase’s new NFT market launch than OpenSea, after the press release. Prepare to launch only 1 month. More than 1 million participants signed up to trial the new market. The company has also received more than 2.5 million emails from users who have written requests to test the platform.
What makes the NFT market attractive?
With the aim of making it easier and more convenient for users to create, buy, search and display NFTs, Coinbase decided to develop a platform similar to the social media platforms we all use in our lives. daily To make it easier to follow the artist’s profile. and other collectors as well as news updates within the community.
Besides that On Tuesday, December 14, 2021, the largest platform in the US has announced the launch of Coinbase Wallet, which is more than a platform to provide trading services in the form of decentralized that is cheap, but only However, this new innovation has now added a standalone browser extension that can be used in conjunction with Wallet to support NFT portfolios, allowing users to enjoy browsing their collections. Along with connecting crypto wallets directly to the NFT market.