Coinbase has just announced that it will launch its NFT marketplace… “soon.”
On March 14, Coinbase NFT —the account for Coinbase’s upcoming NFT marketplace— posted on its official Twitter account that its team met with more than 100 content creators to work on the launch of their new NFT marketplace.
However, so far, there is no official launch date. What is clear is that the marketplace will be launched in the near future and will feature several tools and innovations that are not offered by the competition.
Coinbase seeks to innovate in the NFT industry.
According to Coinbase, its key differentiator will be the new “social function” with which they seek to improve the interaction between artists and users, allowing them to create a community of creators set to grow exponentially.
Brian Armstrong, CEO of Coinbase, recently said that the NFT market could eventually surpass that of cryptocurrencies which is why they are in the process of creating a marketplace that offers a more immersive experience such as that of social networks like Instagram or Facebook.
“We are very excited about NFTs, this is going to be a very large area for crypto in the future, and it already is today,”
Coinbase NFT has already received more than 2.5 million registrations from users on the waiting list to join the platform, just 5 months after it was announced.
According to DappRadar statistics, OpenSea, Coinbase NFT’s biggest competitor, has seen a 15% decline over the last 30 days, both in internal transactions and active users. Even the transactional volume decreased by 42.65%. So perhaps it is not a bad time for Coinbase to launch its new platform.
Coinbase Wants To Join The NFT Game.
The new Coinbase NFT marketplace was announced last October 12, 2021, raising high expectations among the community since then, as the backing of the largest exchange in the United States would put the platform in direct competition with other titans such as OpenSea, Rarible, NBA Top Shot Marketplace, Binance NFT, Crypto.com among others.
An important fact to consider is that Coinbase has positioned itself for years as a leader in the cryptocurrency market by complying with all the legal regulations imposed by the American government, which could translate in a direct advantage over the competition.
So, although Coinbase has not yet announced a specific date for the launch of the new NFT platform, it is very possible that once it is launched, it will attract a lot of artists and users who right now are “loyal” to the competition.
[PRESS RELEASE – San Francisco, United States, 23rd March 2022] Ankr, The Decentralized Web3 Infrastructure Company, Just Released An SDK That Helps Game Developers Easily Monetize Their Games With Web3 Integrations. Ankr, the established leader in Decentralized Web3 infrastructure and the largest node provider for both Binance and Polygon, announces the much-anticipated launch of a…
Cybercrimes are increasing both in numbers and sophistication. The latest to find itself on the receiving end was the Bitcoin mining pool, BTC.com, which announced suffering a cyber attack on December 3rd. The perpetrators siphoned certain digital assets worth $700,000 owned by BTC.com’s clients and nearly $2.3 million in asset value owned by its parent…
The top financial regulator in the United Kingdom – the Financial Conduct Authority (FCA) – reportedly said that the cryptocurrency platform FTX does not have the necessary license to provide products or services in the country. The trading venue has been on a roll in the past several months, despite the market declines. Earlier this…
Regulators will inevitably approve a Dogecoin ETF after both Bitcoin and Ethereum hit US public markets, according to BitMEX co-founder Arthur Hayes. During a Sunday interview alongside Real Vision CEO Raoul Pal, the two investors reviewed their favorite meme coin and crypto picks this cycle, as well as the top risks currently looming over the
On-chain data shows that Bitcoin’s mining difficulty was lowered to 31.36 trillion hashes at a block height of 756,000. Despite this, the Bitcoin ecosystem is still guarded by the most secure blockchain network. According to data from BTC.com, the Bitcoin mining difficulty adjustment decreased by approximately 2.3% on September 28th. The latest decline comes two weeks…
As Hong Kong takes center stage in the regional crypto business, local firms are trying to expand their customer base. One such firm, HashKey Group, is reportedly raising up to $200 million in funding to tap new opportunities. HashKey Eyes $200 Million in Funding Targeting a more significant share of the Asian crypto market, Hong…
South Korea-headquartered LG Electronics has added blockchain and cryptocurrency to its business portfolio. LG’s Blockchain and Crypto Game Plans At the Annual General Meeting on March 24, LG Electronics’ shareholders approved “blockchain-based software” development and “sale and brokerage of cryptocurrency” as two new business areas. Although LG has included the sale and brokerage of cryptocurrency…
[PRESS RELEASE – Dubai, UAE, March 14th, 2024] MANTRA has announced a major step towards mainstreaming Real World Asset (RWA) tokenization with its application for its first essential financial licenses. Its expected receipt of licensing in the UAE will allow MANTRA to target a global customer base, and empower businesses to capitalize on RWA asset
In what can be described as an uncommon scenario, a small bitcoin miner got the block reward of 6.25 BTC. An individual with computing power of just 126 terahashes per second (TH/s). The solo miner, even with the small hashing power, was able to win the block race and receive the 6.25 BTC reward. The…