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Coinbase Launches Beta NFT Marketplace

Cryptocurrency Exchange Coinbase (COIN) announced on May 4 that the beta version of its Non-Fungible Token (NFT) marketplace is now open to everyone. “What does it mean to be in public beta? It means we’re still working on adding more features to the product but eager for you to help us build it publicly,” the company tweeted.

Nearly seven months after announcing an October 2021 launch, the exchange launched the marketplace to a small group of invited users in late April. The market is only available to a small group of people selected from a waitlist of 1.5 million. These selected users have been able to buy and sell NFTs over the past two weeks. Others can only see, not use.

Sanchan Saxena, vice president of products at Coinbase, said earlier: “We are building a marketplace where you can certainly buy and sell NFTs, but more importantly, participate. You can interact with creators. You can interact with collectors. “You can interact with other collectors in the community around this NFT. This is an important part of our strategy. “

NFTs use blockchain technology to track ownership of digital data, including images, videos, and text. The popularity of such assets has risen in 2021 but has recently shown signs of slowing.

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