Coinbase unveiled a preview of its NFT Platform. The publicly listed crypto exchange announced plans for this market earlier, and it looks like it’s finally ready.
Coinbase lets users preview the NFT platform
According to Coinbase Vice President for Products, Sanchan S. Saxena, the essence of the platform is to show how easy it is for users to buy NFTs. The new NFT Marketplace will allow users to connect to various self-custody wallets and purchase NFTs.
Earlier I shared the product preview of @Coinbase_NFT and how super easy it will be for anyone to get started.
Today I want to share how easy it will be for anyone to buy an NFT on @Coinbase_NFT using a self-custody wallet of your choice (CB Wallet, Metamask, etc.)
— Sanchan S Saxena (@sanchans) January 26, 2022
In terms of Saxena, “we are building an open market, and you will be able to buy an NFT using any self-custody wallet of your choice OR using your CB account and hold it with CB. You can buy an NFT which was hit on any platform, straight to CB NFT.
According to the VP’s comments, Coinbase will prioritize user experience above anything else. It will market the ease of use of its NFT platform compared to other options in the market.
Saxena also promised to share the preview of the Coinbase social discovery feed and show users how to discover new NFTs by following artists.
There is no timeline yet for the launch of the Coinbase NFT platform. The exchange released a waitlist with the initial announcement in October 2021. But previews suggest the launch will arrive soon.
The NFT trend continues to grow
Coinbase’s move comes amid increased interest in NFT from crypto exchanges. With the volume of NFT transactions rapidly increasing, crypto exchanges are also looking for ways to bring more of these transactions to their platforms.
It is not just crypto exchanges that incorporate NFTs into their operations. Social media platforms are also looking to integrate NFTs into their business.
For example, Twitter and Reddit recently announcement the NFT profile picture function. This will allow their users to connect their wallets to profiles and view their NFTs.
While everyone is getting involved in NFT and trying to grab a market share of over $20 billion, even the largest NFT market is looking to branch out. A recent screenshot show OpenSea provides support for Solana.
This suggests that the EthereumThe Google-based marketplace wants to expand its reach to attract more users.