Coinbase – America’s largest cryptocurrency exchange – has finally launched ‘Coinbase (NASDAQ:) NFT,’ where users can trade NFTs and explore digital collectibles. The Web 3.0 social marketplace, as described by Coinbase, aims to facilitate buyer and seller interactions, provide advanced tools for discovering NFTs, and “empower people to create, collect, and connect.”

The beta version of the platform is still in development. Only a select group of people on a waiting list have full access. Users can currently buy or sell NFTs using a self-custody digital wallet, without transaction fees. It is easy to navigate and has a clear interface.

“We’ve been able to successfully bring the complexities of cryptocurrencies in an easy-to-use way to the masses. We believe we have a similar opportunity to do so for NFTs as well,”
said Sanchan Saxena, Coinbase’s vice president of product.

Although there are no Ethereum-minted NFT collections, the company promises to be adding other blockchains in the near future. Some of the well-known collections on Coinbase’s new platform include Azuki, Bored Ape Yacht Club, Doodles, Moonbirds, World of Women, Cryptobatz, and others.

Coinbase NFT has enabled the ‘Comment’ section under each digital collectible with the ‘Upvote/Downvote’ function to allow deeper community engagement. This feature is likely to be well-filtered as bots and spammers could cause serious issues.

Coinbase is widely used and is one of the largest global crypto trading sites with around 90 million users – it’s no surprise that the brand new NFT platform could outperform the current NFT marketplace leader – Opensea. It has $547 billion of quarterly volume traded and $278 billion worth in crypto.

HERE’S SOME ALPHA:we’re in beta pic.twitter.com/HMdTPat5vP

— Coinbase NFT (@Coinbase_NFT) April 20, 2022

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