Roommate, so much has changed with cryptocurrency that I can barely keep up. Thanks to Twitter, you can always see what the streets are talking about and all eyes are on Coinbase today. The cryptocurrency exchange platform was trending when they announced that they were planning to expand the NFT (unwanted token) with a new marketplace that would compete with other companies like OpenSia by the end of the year.
According to the CNCB, Coinbase plans to launch a marketplace, Coinbase NFT, which allows users to mint, collect and trade NFT. Coinbase is so excited about NFT that it could open up a significant source of revenue to now-public companies, assuming that NFT continues to attract investor interest from high-value digital collectibles and rare industry seekers.
Originally with Coinbase’s new marketplace, it will not only be in direct competition with OpenSea, it will also be in competition with other crypto start-up companies Gemini and Binance. So many people are trying to get tokens in hand that the demand has increased this year. According to data tracking by crypto-based application company Dapradar, the NFT market alone exceeded 10 10 billion in transactions in the third quarter of 2021 alone.
Coinbase will be a game-changer for content creators, including the NFT “Social Features” app, to help people make money by posting videos and other content online. Coinbase is not the only cryptocurrency company to have taken the big step. As we reported earlier, AMC plans to adopt various cryptocurrency methods for payment by the end of the year.
Coinbase consumers also have to wait the same amount of time for the market place to take effect. However, the company said users can sign up for a waitlist for initial access to the feature.
Rumiz, are you excited about the marketplace?
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