Beta Version of Coinbase’s NFT Marketplace Goes Live

On Wednesday (April 20), Coinbase announced that the beta of “Coinbase NFT” (which it calls “a Web3 social marketplace for NFTs”) had gone live.

On 12 October 2021, Coinbase published a blog post to announce its upcoming product Coinbase NFT:

Today, we’re announcing Coinbase NFT, a peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs easier than ever. 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.

“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.”

The blog post went on to say that “the initial launch will support Ethereum based ERC-721 and ERC-1155 standards with multi-chain support planned soon after.”

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Well, earlier today, Coinbase published another blog post about Coinbase NFT, this time to say that they had released the beta version of this product and that “starting today, anyone can check out the first version of Coinbase NFT at nft.coinbase.com and explore the vast collection of NFTs on the Ethereum blockchain.”

Today’s announcement also mentioned that beta testers would be “able to create a Coinbase NFT profile to buy and sell NFTs using any self-custody wallet, whether that’s Coinbase Wallet or something else” and that they were “starting with a small set of beta testers” who would be invited to try out their NFT marketplace based on their position on the waitlist.”

As for the future of Coinbase NFT, here is what they had to say:

In the coming weeks and months, we’ll add more features that will gradually bring our vision for a web3 social marketplace to life. We’re planning to add drops, minting, token-gated communities, and the option to buy NFTs with your Coinbase account or a credit card. We’ll also add support for NFTs on multiple chains. And over time, we intend to decentralize more features by moving them from Coinbase tech to decentralized solutions.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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