coinbase NFT marketplace

The Coinbase NFT Marketplace — Explained

coinbase NFT marketplace

With the NFT marketplace beginning to explode in competition and in privacy, we are beginning to see new marketplaces appearing to sell NFTs on.

While there are a few front-runners at the moment (like OpenSea), there is plenty of room left in the market for competition.

Most of the NFT marketplaces which appear are pretty opaque in terms of outright ownership.

However, a new market will join the competition in the near future.

The fact that it is going to be backed by Coinbase, though, should give interested NFT collectors an idea of just how well-backed this is going to be.

How to join the marketplace

Indeed, you can already join the waiting list to get your feet under the table and join in with this NFT marketplace today.

With their stated aim of making ‘economic freedom’ a reality for many, Coinbase is keen to get involved in this massive new market.

The development of their own storefront and marketplace is just another example of how seriously they seem to be taking this.

Confidence clearly is high in this market.

The quotes from Coinbase CEO Brian Armstrong show just how excited they are about this new market. Indeed, Armstrong noted that his marketplace could become even bigger than Coinbase’s own cryptocurrency business.

Given the size that Coinbase holds within that market, this is a bold and ambitious claim. With more and more bodies joining in with NFTs, though, this is not going to die away anytime soon.

Indeed, with the likes of Disney NFTs being available and tech giants like EA saying they see it as part of the future, this is not going anywhere.

Coinbase starting up its own NFT marketplace, though, is simply more legitimacy for the NFT industry.

The next step in a major market trend

Factoring in the number of big-name businesses either investing in or planning to invest in NFTs, the idea this is a fad or scam can be easily challenged.

Major market leaders in every industry from art to tech to entertainment to fashion are getting involved.

When an exchange like Coinbase gets involved, though, it is the clearest indicator yet of the importance of NFTs in our digital future.

The marketplace is expected to launch within the next two quarters, and is already seeing a lot of hype from users and marketplace experts.

With CEO Armstrong suggesting that NFTs could rival, or even exceed, the size of the company’s cryptocurrency business, it shows where many people within the industry are focusing their ideas.

A few years ago, cryptocurrency was still viewed with absolute skepticism by those outside of its influence. 2020 and 2021 saw many people saying the same things about NFTs.

When major names like Coinbase join the discussion, though, it is adding another layer of confidence to the longevity of such products.

Things are changing all the time, and Coinbase looks almost certain to play a role in creating any shift in the NFT marketplace.

Given the largest US digital asset exchange reported a third-quarter revenue of around $1.3bn, their claims that NFTs could be even bigger in future shows their overarching confidence in this market.  

Last updated: November 15, 2021