Coinbase NFT Marketplace To Launch “Soon”

Coinbase just announced the launch of its NFT marketplace… “soon.”

On March 14, Coinbase NFT –the account responsible for Coinbase’s upcoming NFT market– shared via its official Twitter account. It stated that more than 100 content creators met with its team to launch their NFT marketplace.

There is currently no date for the official launch. The marketplace will launch in the near future, and it will offer many tools and innovations not available from the competition.

Coinbase is looking to innovate in NFT.

Coinbase claims that the key difference will be their new “social function”, which seeks to improve interaction between artists, users, and creators, allowing them create an ecosystem of creators that will grow exponentially.

Coinbase CEO Brian Armstrong recently stated that the NFT market could surpass cryptocurrencies. This is why they are creating a marketplace that provides a more immersive experience like social networks such as Instagram and Facebook.

“We are excited about NFTs. This is going to be an extremely large area for crypto in future. It already is today.”

Coinbase NFT already has more than 2.5 Million registrations from users who are on the waiting lists to join the platform. This is just five months after the announcement.

DappRadar statistics show that OpenSea has experienced a 15% decrease in active users and internal transactions over the past 30 days. Even transaction volume fell by 42.65%. Coinbase may launch its new platform at a good time.

Coinbase wants to join the NFT game.

The Coinbase NFT marketplace, which was announced on October 12, 2021, raised high expectations in the community. Its backing by the largest American exchange would place it in direct competition to other titans like OpenSea and Rarible, NBA Top Shot Marketplace (Binance NFT), Crypto.com, among others.

It is important to remember that Coinbase, by adhering to all legal regulations set by the American government for cryptocurrency markets, has been a leader for many years. This could give it an advantage over its competitors.

Coinbase has yet to announce a date for the launch, but it is possible that it will attract many artists and users who are loyal to the competition once it launches.