Coinbase NFT: the announcement of the new marketplace
Coinbase NFT: the announcement of the new marketplace
NFT news

Coinbase NFT: the announcement of the new marketplace

By Stefania Stimolo - 13 Oct 2021

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Coinbase has announced the arrival of Coinbase NFT, its new Non Fungible Token marketplace. At the moment, it is only possible for interested users to join the waiting list.

Coinbase NFT and the decentralized marketplace

Coinbase has announced the arrival of its decentralized NFT marketplace, introducing also its new dedicated Twitter channel a few hours ago.

“Hello Punks and Penguins. Hello Cats and Kitties. Hello Apes and Art Blocks. And hello world! This is the official Twitter for Coinbase NFT. Stay tuned for everything you need to get started when we launch. Learn more here”.

Coinbase NFT is reportedly a decentralized marketplace for collectible tokens that makes it easier to mint, buy, showcase and discover NFTs.

At initial launch, Coinbase’s signature marketplace will support the Ethereum-based standards of ERC721 and ERC1155, with multi-chain support planned for the near future. Not only that, the platform has been created to support the NFT community, and connect creators, collectors and fans. Here’s what the announcement reads:

“We’re making NFTs more accessible by building user-friendly interfaces that put the complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery. And we’re going to grow the creator community exponentially, a win for artists and for fans”.

Coinbase NFT
Coinbase is launching an NFT marketplace

Coinbase joins the NFT mania

It is impossible to stay away from it, the NFT-mania is really infecting all platforms. Even centralized ones, such as Coinbase, which will therefore offer a decentralized marketplace to accommodate the buying and selling of art, gaming, metaverse, collectible tokens and more.

This is also happening because NFT sales have exploded, with volume soaring.

According to reports, the top marketplace is OpenSea with $8.72 billion in volume, followed by Axie Infinity and CryptoPunks with total volumes of $2.5 billion and $1.46 billion respectively.

Among the top NFT sales is CryptoPunk #7804 at $7.56 million, followed by NFT Crypto Punk #3100 at $7.51 million and Ringers #109 at $6.93 million. 

However, if we look at the top sale of the last 24 hours there is Fidenza #288 for $489,000. This is not the same Fidenza purchased a few days ago by Cozmo de’ Medici, who later turned out to be Snoop Dogg, which was declared the first most expensive in the sector.

NFT marketplace in continuous growth and development

All crypto platforms are slowly making the decision to enter the NFT world by creating their own marketplaces based on certain blockchains.

Since the beginning of last summer, crypto-exchange giant Binance has been operating its NFT marketplace, inviting artists two months earlier to send in their applications to join Binance NFT.

Earlier this month, Flow Blockchain also reportedly announced the launch of BloctoBay, its new NFT marketplace. So while OpenSea offers support for cross-blockchain on Ethereum, Polygon and Klaytn, BloctoBay offers support for Flow NFTs.


Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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