Coinbase, a cryptocurrency trading platform, launched the beta version of its non-fungible token (NFT) marketplace, Coinbase NFT. On the beta site,
Coinbase, a cryptocurrency trading platform, launched the beta version of its non-fungible token (NFT) marketplace, Coinbase NFT.
On the beta site, testers who sign up will be able to create a profile to buy and sell the digital art via a crypto wallet.
Testers will be invited based on their position on a waitlist, with Coinbase asaying it will open up access to more people over time.
Coinbase wants the platform to be “more than just buying and selling” and plans to allow profiles to comment and upvote/downvote on NFTs in a similar way to social media site Reddit.
There will be no Coinbase transaction fees for the time being, although fees will be added at some point according to a statement, to ensure it is “in-line with Web3 industry standards.”
Web3 is the name given to the ‘next generation’ of the internet that is built on decentralised blockchain technology.
Moving forward, Coinbase said it will “add more features that will gradually bring our vision for a Web3 social marketplace to life.”
That includes NFT drops, minting of tokens, the option to buy NFTs with a credit card and decentralising more features.
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