Coinbase preps NFT marketplace


Coinbase is joining the NFT party, creating a decentralised marketplace where users can mint, collect and trade non-fungible tokens.

The crypto exchange has opened a waiting list ahead of an expected launch by the end of the year that will initially support Ethereum-based standards.

Coming a day after rival exchange FTX.US unveiled its NFT marketplace, the move sees Coinbase take on the likes of OpenSea in a market that has seen trading activity more than double between July and August this year.

Coinbase NFT is designed to “foster community and connect creators, collectors and fans,” says the firm, adding that users will receive a personal feed that will showcase their NFTs in one place, “helping to connect them with like-minded fans or artists”.