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The leading American cryptocurrency platform – Coinbase – said it will launch a peer-to-peer non-fungible token marketplace called Coinbase NFT. Users can join a waitlist for early access and regular updates.

Coinbase Expanding into The NFT Universe

In a recent blog post, one of the largest digital asset exchanges revealed it will enable its customers to mint, purchase, showcase, and discover non-fungible tokens on a new platform – Coinbase NFT and offered some details on how it will work.

“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 noted that the initial launch will support Ethereum-based ERC-721 tokens, while later on, it intends to bring on ERC-1155 standards with multi-chain support.

The cryptocurrency exchange added that people have the desire to express their talent and individuality. As such, non-fungible tokens represent a “universal way for creators to own, control, and benefit from their creations.”

As of the moment, the largest digital marketplace for crypto collectibles and non-fungible tokens is OpenSea. This summer, the decentralized platform recorded a massive milestone, as its trading volume hit the $1 billion mark in August, which was an increase of nearly 1,000% year-on-year.

FTX Also Dived into The NFT Craze

It is worth noting that another giant digital asset exchange – FTX – also recently launched its non-fungible token marketplace. Initially, the trading venue allowed only US-based customers to join in.

Named Solana NFT Marketplace, digital collectibles on the new platform must be on the Solana blockchain. However, FTX has plans to support Ethereum-based tokens in the near future, which are the industry standard.

Many celebrities, actors (Lindsay Lohan), musicians (Eminem), and prominent sportsmen (Tom Brady) have recently shown interest in non-fungible tokens or have even introduced their own digital collection. FTX outlined that trend and raised hopes that the Solana NFT Marketplace would be a top choice in its field:

“We decided to create an NFT marketplace on FTX US after becoming immersed ourselves in the NFT ecosystem. The NFT ecosystem has started to infiltrate pop culture, but has been lacking a platform that provides easy access and exposure to the mainstream audience.”

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



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