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Coinbase Launches NFT Marketplace With Social Features To Grow Creator Community ‘Exponentially’ – Bitcoin Exchanges News

Cryptocurrency exchange Coinbase is launching a peer-to-peer marketplace for non-fungible tokens (NFTs). The Nasdaq-listed company claims that “Coinbase NFT” will make “typing, buying, presenting and discovering NFTs easier than ever.” Additionally, Coinbase said, “We will grow the creator community exponentially, a victory for artists and for fans.”

Coinbase NFT to Help Grow the Creator Community ‘Exponentially’

The Nasdaq-listed cryptocurrency exchange Coinbase announced on Tuesday that it was launching a marketplace for non-fungible tokens (NFTs). Sanchan Saxena, vice president of products at Coinbase, wrote:

Today we are announcing Coinbase NFT, a peer-to-peer marketplace that will make typing, buying, presenting and discovering NFTs easier than ever.

“Just as Coinbase has helped millions of people access bitcoin for the first time in an easy and reliable way, we want to do the same for NFTs,” he added.

Coinbase Launches NFT Marketplace with Social Features to Grow Creator Community 'Exponentially'
Screenshot of Coinbase’s NFT system. Source: Coinbase

Coinbase further explained, “All NFTs are on-chain. The initial launch will support the Ethereum-based ERC-721 and ERC-1155 standards with multi-chain support expected shortly thereafter. We will provide the best user experience, but we will never lock the creators away. Interested users can now register for early access.

Noting that “industries such as fashion, games and music recognize the power of NFTs to unlock new forms of creativity and ownership,” noted the Coinbase vice president, “If you’ve tried to create or d ‘buy an NFT, you’ve probably found the missing user experience.

Coinbase aims to simplify the process, saying, “We make NFTs more accessible by creating user-friendly interfaces that put complexity behind the scenes. We’re adding social features that open up new avenues of conversation and discovery. The Vice President underlined:

We will grow the community of creators exponentially, a victory for artists and for fans.

What do you think of Coinbase’s launch of an NFT marketplace? Let us know in the comments section below.

Kevin helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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