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Coinbase Launches NFT Marketplace with Social Features to Grow Creator Community “Exponentially”

Coinbase Launching NFT Marketplace With Social Features to Grow Creator Community 'Exponentially'

Cryptocurrency exchange Coinbase is launching a peer-to-peer marketplace for non-fungible tokens (NFTs). The Nasdaq-listed company says that “Coinbase NFT” will make “minting, purchasing, showcasing, and discovering NFTs easier than ever.” In addition, Coinbase says, “We’re going to grow the creator community exponentially, a win for artists and for fans.”

Coinbase NFT to Help Grow Creator Community ‘Exponentially’

The Nasdaq-listed cryptocurrency exchange Coinbase said Tuesday that it will launch a marketplace for nonfungible tokens. Sanchan Saxena (VP of Products, Coinbase) wrote:

Today, we’re announcing Coinbase NFT, a peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs easier than ever.

” Just as Coinbase allowed millions to access bitcoin in an easy-to-use and trusted manner, we also want to do it for NFTs,” he said.

Coinbase Launching NFT Marketplace With Social Features to Grow Creator Community 'Exponentially'
Screenshot of Coinbase’s NFT system. Source: Coinbase

Coinbase explained further: “All NFTs can be found on-chain. The initial launch will support Ethereum based ERC-721 and ERC-1155 standards with multi-chain support planned soon after. We will provide the best user experience but we won’t lock in creators.” Anyone interested can sign up now for early access.

Noting that “industries like fashion, gaming and music are recognising the power of NFTs in unlocking new forms of creativity, ownership, and ownership,” the Coinbase Vice President noted, “If your tried to create an NFT or buy one, you’ve likely found the user experience lacking .”

Coinbase wants to simplify the process. They claim: “We’re making it easier for NFTs by creating user-friendly interfaces that hide the complexity. We are adding social features that allow for new avenues of conversation and discovery,” the VP stated.

We’re going to grow the creator community exponentially, a win for artists and for fans.

What do you think about Coinbase launching an NFT marketplace? Please let us know your thoughts in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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