After FTX & Binance, Coinbase is ready to dive into the NFTs by launching its own NFTs marketplace.
In the present time, NFTs concept is at a tremendous level in crypto space. And almost every platform wants to add their services with the NFTs concept. Recently FTX exchange launched NFTs marketplace.
On Tuesday, Coinbase exchange announced through an official blog post about their plan for NFTs marketplace to follow the trend of crypto space.
Sanchan Saxena, the vice president of product and ecosystem at Coinbase, said that NTFs marketplace of the Coinbase exchange will allow their users to mint, purchase, discover and showcase NFTs artwork. And the supported network will be Ethereum blockchain.
According to the Sanchan Saxena, “through decentralized contracts and metadata transparency”, users will be able to handle their NFTs contents in a decentralized medium.
At present, Coinbase has 68 million verified users and 8.8 million active monthly users, as per Q2 2021 records. So the launching of the NFTs marketplace by Coinbase may create a big competition for the existing well established NFTs Marketplaces like OpenSea.
Trend of NFTs
The trend of the NFTs marketplace seems not going down. Because from time to time new platforms are coming to lead the NFTs trending vehicle.
In June 2021 Binance exchange introduced his own NFTs marketplace with the aim to bring the NFTs based blockchain transaction with less fees.
FTX exchange followed Binance exchange and launched NFTs marketplace for thE US users.