The Coinbase cryptocurrency exchange is launching a peer-to-peer marketplace for non-fungible tokens (NFTs). The Nasdaq-listed company says Coinbase NFT “will make minting, buying, displaying and discovering NFTs easier than ever.” In addition, Coinbase says, “We will grow the creator community exponentially, a win for artists and fans.”

Coinbase NFT aims to help the creator community grow “exponentially”

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

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

“Just as Coinbase has helped millions of people access Bitcoin for the first time in a simple and trustworthy way, we want to do the same for the NFTs,” he added.

Screenshot of Coinbase’s NFT system. Source: Coinbase

Coinbase further stated, “All NFTs are in the chain. The initial rollout will support the Ethereum-based ERC-721 and ERC-1155 standards, with multi-chain support planned soon after. We’ll offer the best user experience, but we’ll never lock up creators. ”Interested users can now register for Early Access.

“Industries like fashion, gaming and music are recognizing the power of NFTs to unlock new forms of creativity and ownership,” noted the Coinbase VP: “If you’ve tried making or buying an NFT, you’ve probably found the user experience inadequate.”

Coinbase aims to simplify the process, stating, “We’re making NFTs more accessible by creating user-friendly interfaces that bring the complexity behind the scenes. We add social functions that open up new avenues for conversation and discovery. ”The TP emphasized:

We will grow the creator community exponentially, a win for artists and fans.

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

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