Maybe the latest news on Coinbase NFT Marketplace would positively influence the company’s stock after it lost more than 49% in a year.
After testing its beta version, Coinbase Global Inc (NASDAQ: COIN) is not opening its non-fungible token (NFT) market to the public. The crypto exchange released the beta version in April, allowing selected users to use the platform. This came after its initial announcement in October and the opening of a waiting list for potential users. Chosen users who tested the beta platform included those on its waiting list. Last year, more than 1.1 million potential users registered on the forum. Less than a month after the tests, Coinbase opens its NFT market to everyone. Coinbase’s NFT marketplace focuses on building a social community for sellers and buyers. The exchange company said the explosion of NFT and its communities has revealed the importance of online conversation beyond transactions.
Coinbase NFT Marketplace Available to the Public
Coinbase announced that the beta version of its NFT marketplace is “up to everyone” in a recent tweet. The exchange added:
“And what does it mean to be in open beta? This means that we are still working on adding more features to the product, but we look forward to your help developing it in public. »
Coinbase is planning to enter the NFT market in a big way and compete with leading platforms. During a press briefing last month, the Vice President of Product, Sanchan Saxena, said Coinbase NFT targets a part of the market share from popular marketplace OpenSea with its zero-transaction fees. In the official announcement of its beta NFT marketplace, Coinbase noted that it would not charge transaction fees for a limited time.
According to Coinbase, the platform is open to everyone as it is now ready for more traffic. Speaking further, the crypto exchange said:
“Coinbase believes NFTs are here to stay, and the Coinbase marketplace is about much more than just buying and selling. Coinbase is focused on cultivating a community and is excited to be opening the beta up for more people to enjoy the experience they have created.”
In addition to not charging transaction fees for a while, beta testers will be able to use any self-service wallet, whether it’s Coinbase Wallet or not. The market offers varieties of NFTs from different creators and brands. Some of them include Boss Beauties, Doodles, and Azuki. Coinbase said its plan for its NFT Marketplace is to make it a space where creators and collectors can create and engage their communities.
Maybe the latest news on Coinbase NFT Marketplace would influence its stock to grow after losing more than 49% in a year. Also, COIN stock has dropped over 48% since January and another 28.22% in the last three months. The company’s stock has been down nearly 22% over the past month. However, Coinbase shares gained more than 6% in the last five days.
