Coinbase NFT Marketplace: A New Era Begins
After months of anticipation, Coinbase’s much-anticipated nonfungible token (NFT) marketplace has finally entered its beta phase. For those who have been patiently waiting (and refreshing their inboxes for that golden ticket), the moment is here! Users can now create profiles, and dive into the vibrant world of buying and selling NFTs.
Marketplace with a Twist: Social Meets Commerce
According to Sanchan Saxena, Coinbase’s vice president of product and ecosystem, the marketplace is designed to feel like a combination of a social media platform and a traditional NFT market, like the ever-popular OpenSea. Imagine being able to follow creators like you follow your favorite influencers, commenting on art as if it’s your friend’s latest Instagram post, and discovering new pieces through a personalized feed based on your NFT escapades!
No Fees? Sign Me Up!
In a delightful twist, Coinbase announced that during the beta phase, users can buy and sell without the hassle of transaction fees. Yep, you read that right! But wait, there’s more—by partnering with 0x Labs, they’re also on a crusade to bring down those pesky gas fees, making your Ether (ETH) transactions lighter on your wallet.
The Fine Print: Moderation and Community
With great power comes great responsibility—or at least that’s how the saying goes. Saxena emphasized that the platform would lean on users and the law to guide moderation, stating, “We’re not here to judge what’s right or wrong, as long as it’s legal.” So, be kind and perhaps skip the trolling, folks!
What’s Next for Coinbase NFT?
As Coinbase’s journey continues, they plan to open the platform to all users aged 18 and over in the coming weeks, based on waitlist positions. And with over 8.4 million email addresses on that waitlist, it’s prime real estate for NFT enthusiasts. The company’s ambition doesn’t stop there; they plan to incorporate more decentralized features like user comments, keeping the community engaged and interactive.
So, while other exchanges like Binance and FTX are dabbling in NFTs, Coinbase is charting its own course. Let’s all just hope the NFT market doesn’t go as quiet as that one group chat you forgot about!
