Coinbase just recently revealed the launch of its NFT marketplace, much to the pleasure of crypto financiers. Its aim is to make the minting, selling, buying, and storing of non-fungible tokens easier for investors who want to get into the market. It brings this service to its 68 million-strong user base in its objective to make crypto more available to financiers.
The NFT marketplace, which is yet to be opened for trading, will provide competition to the leading non-fungible token marketplace OpenSea. With its big user base, Coinbase might be set to be the biggest NFT marketplace. Alongside the announcement of the marketplace was a waitlist sign-up for interested parties. On the very first day following the launch, Coinbase has actually currently broken the 1 million mark for users who had actually registered.
Over 1.1 Million Sign Up For Coinbase Waitlist
The waitlist which is open to everybody has seen a tremendous amount of support. On its very first day, Brian Armstrong, Co-Founder and CEO of Coinbase, revealed that the waitlist had actually overcome 1.1 million sign-ups. Interest in the non-fungible token marketplace has been high and users have poured out support for Coinbase following the announcement.
Traffic to the waitlist had actually been so high that it needed to be scaled approximately accommodate everybody. Coinbase’s Vice President of Product, Sanchan Saxena, gave the update a few hours after the announcement went live and assured users that they could keep signing up for the marketplace.
Exchanges Taking The Plunge Into NFTs
The success of non-fungible token platforms like OpenSea has actually driven the requirement for more NFT platforms in the area. OpenSea currently averages about 260,000 daily users and has seen significant NFT sales on its platform. This has actually triggered cryptocurrency exchanges to start providing non-fungible token abilities by themselves platforms.
Binance, the largest crypto exchange in the world, had launched its own NFT marketplace. Its provides users a location to mint, purchase and offer non-fungible tokens without needing to go through the extensive procedure of minting the non-fungible tokens straight on the blockchains.
FTX exchange also recently announced the launch of its very own NFT marketplace. FTX is among the fastest-growing cryptocurrency exchanges and has actually taped a 397% boost because January.
As more exchanges launch their own NFT marketplaces, speculations are they will become the go-to platforms for the minting and trading of non-fungible tokens.
Coinbase will launch the marketplace to its U.S. users initially and will present the function to its other clients in time. “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,” the announcement read.
