Bitcoin
$ 62,110
Ethereum
$ 4,137.8
Litecoin
$ 193.56
okex ads

Coinbase launching NFT marketplace

Coinbase Global Inc. is on a mission to make it a breeze to create, buy, advertise and learn about nonfungible tokens – and the company aims to do so by starting a new NFT marketplace by the end of the year.

The cryptocurrency exchange announced Tuesday that it will be rolling out “Coinbase NFT,” which it says will be a “peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs easier than ever.”

İstanbul, Turkey – February 19, 2018: Close up shot of Bitcoin, Litecoin and Ethereum memorial coins on a black background. Bitcoin, Litecoin and Ethereum are crypto currencies and worldwide payment system (istock / iStock)

The blog post by Coinbase vice president of product Sanchan Saxena reads, “Just as Coinbase helped millions of people access Bitcoin for the first time in an easy and trusted way — we want to do the same for the NFTs

NFTs are unique digital tokens that are secured using the same technology behind cryptocurrencies, and the intangible assets have gained in popularity over the past year. They can be works of art, videos, photographs or even memes. But there are far more buyers, so far, than sellers, driving up the price for those seeking to own the tokens either for sentimental or investment reasons.

Part of Coinbase’s forthcoming NFT platform is aimed at making it easier for creators to sell their wares, and the exchange makes a direct pitch to artists.

“Creating an NFT should be as simple as tapping a few buttons,” the company’s announcement states. “Anything more complicated is a barrier to creativity.”

“We will make it effortless for artists to maintain creative control through decentralized contracts and metadata transparency,” Coinbase vows, saying that “all NFTs are on-chain.”

“The initial launch will support Ethereum based ERC-721 and ERC-1155 standards with multi-chain support planned soon after,” Saxena explains. “We’ll provide the best user experience, but we’ll never lock creators in.”

The New York Post pointed out that Coinbase’s new venture presents a threat to OpenSea, the largest current marketplace for NFTs and backed by billionaire Mark Cuban.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Facebook whistleblower Frances Haugen says she’s supporting herself with crypto she purchased ‘at the right time’
October 25, 2021By
Here’s why Electro Optic Systems (ASX:EOS) shares are frozen today
October 25, 2021By
Tezos Price Analysis: We anticipate XTZ/USD to fall and move to the $6 support
October 25, 2021By

Advertisement

Video Posts

In
Impact Of Technology On 4.0
July 6, 20210
In
Importance Of Cryptography
July 3, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin62,110 0.05 % 0.94 % 0.86 %
Ethereum4,137.8 0.01 % 0.37 % 7.36 %
Binance Coin480.51 0.03 % 1.26 % 2.10 %
Tether1.000 0.38 % 0.47 % 0.26 %
Cardano2.140 0.07 % 1.30 % 0.93 %
Solana201.83 0.70 % 2.31 % 26.25 %
XRP1.090 0.19 % 0.28 % 0.05 %
Polkadot43.34 0.08 % 1.31 % 2.87 %
Dogecoin0.2712 1.33 % 8.02 % 13.99 %
USD Coin1.000 0.42 % 0.53 % 0.18 %

You have not selected any currencies to display