NFT

Coinbase Prepares Launch of NFT Marketplace as Popularity of Digital Collectibles Grows

Coinbase Prepares Launch of NFT Marketplace as Popularity of Digital Collectibles Grows

Photo: Cryptocurrency Posters

The NTF market continues to gain popularity around the world, so key players in the cryptoindustry are trying to take their place in it. Coinbase is gearing up to launch an NFT marketplace that will allow users to create, buy, and sell digital collectibles by the end of 2021.

Coinbase plans to launch a non-fungible token (NFT) marketplace as the largest U.S. exchange for crypto assets joins the digital collectibles boom, according to the Financial Times. The crypto exchange announced that it will allow users to create, buy, or sell the increasingly popular digital tokens, which are works of art or other collectibles.

The company said it wants to allow everyone to benefit from their creative spark and help turn the creator economy into the central engine of the real economy, so the Coinbase marketplace can create a lucrative new revenue stream given the continued interest in NFT.

Coinbase did not reveal what its commission structure would look like but said users would not have to pay any additional fees to create, list, or promote an NFT beyond the gas fees required to register an NFT on the blockchain. The initial launch will only support minting on the Ethereum blockchain, and will later support other blockchains.

© 2021, Eva Fox | Tesmanian. All rights reserved.

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About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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