Crypto Exchange Coinbase Launches Web3 Social Marketplace for NFTs in Beta

Crypto Exchange Coinbase Launches Web3 Social Marketplace for NFTs in Beta

Nasdaq-listed crypto exchange Coinbase has launched a Web3 social marketplace for non-fungible tokens (NFTs) in beta. In addition, the exchange noted that for a limited time, there will be no Coinbase transaction fees. ‘Coinbase NFT’ Officially Live in Beta

Nasdaq-listed cryptocurrency exchange Coinbase announced Wednesday that “Coinbase NFT” is officially live in beta. Coinbase NFT (non-fungible token) “is a peer-to-peer community platform where creators and collectors can come together to discover, display, purchase and create digital assets,” the company described. Coinbase first announced its plan to launch an NFT marketplace in October last year.

The official Twitter account for Coinbase NFT detailed: Today we kick things off with a full-access experience for some of our waitlist frens. As we ramp up, everyone can explore the vast collection of NFTs on the first version of Coinbase NFT.

The company added: “For a limited time, there’ll be no Coinbase transaction fees. We’ll eventually add fees, which will be in-line with web3 industry standards, and we’ll provide notice ahead of time.”

Sanchan Saxena, Coinbase’s VP of Products, described Coinbase NFT in a blog post published Wednesday as “a Web3 social marketplace for NFTs.” He explained that starting Wednesday, anyone can explore the vast collection of NFTs on the Ethereum blockchain. Beta testers can additionally create a Coinbase NFT profile to buy and sell NFTs “using any self-custody wallet.”

“We’re building a social marketplace powered by web3,” Coinbase emphasized. “You won’t need a username and password. Instead, you’ll use a self-custody crypto wallet as your digital passport to log in. You’ll also use it to pay for stuff and store NFTs.”

Furthermore, the Coinbase NFT website notes that “At launch, Coinbase will only support file types in the form of digital illustrations, photos, and videos,” elaborating: At a later date, we plan to support more file types, such as audio and more. Tags in this story buy nfts coinbase, Coinbase, coinbase nft, coinbase nft community, coinbase nft marketplace, coinbase nft platform, coinbase web3, NFT marketplace, sell nfts coinbase, trade nfts coinbase, Web3

What do you think about Coinbase NFT? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Robinhood Begins European Expansion, Acquiring Regulated UK-Based Crypto Firm Ziglu EXCHANGES | 1 day ago Crypto Exchange With Belarusian Roots Halts Operations for Russian Users EXCHANGES | 7 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleWhat’s New in Megaverse: Developments, Updates and More Disclaimer: This article is 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. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Fed"s Bullard Wants to Raise Bank Rate to 3.5% by Year"s End, Hints at 75 Basis Point Rate Hike FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing