Coinbase released a beta version of the NFT platform after attracting millions of registered users

This Wednesday (20), cryptocurrency exchange Coinbase announced that its platform of non-fungible tokens (or NFTs) has been completed, in a ban on beta release – six months after it announced its large plans.

“Coinbase NFT” is available to select users from the waiting list, which has attracted millions of members since October. According to the broker, it will add users in the order of registration, with the expectation of adding everyone in the “next week”.

Market-to-peer support for NFTs developed by Ethereum, the platform for NFT artwork and writing, and Coinbase says it will add support for other blockchain platforms in the future.

Coinbase NFT will list names from multiple stores. A representative told the app decryption that “an NFT that is sold on the Ethereum blockchain can be explored” on the platform.

The Coinbase platform is currently underway with no additional fees, although it will still have Ethereum fuel costs. Going forward, the market will show its own value, explained by Sanchan Saxena, Coinbase vice president of the product, as “a lower number one digit.”

At release, Coinbase NFT can only be used with personal wallets such as Coinbase Wallet and MetaMask, with wallets that support the WalletConnect protocol.

“Self-care” indicates that consumers are fully responsible for their own assets in the wallet, which can be linked to other stores, exchanges and trading applications. (or dapps).

However, Coinbase NFT plans to develop optional NFT escrow services and allow users to purchase NFTs with a Coinbase account or credit card. Saxena described the initiative as part of a commitment to “bringing NFTs to the masses through this platform”.

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Coinbase NFT is not just about buying and selling NFTs. It is presented as an integrated, interactive interface allowing users to easily search other products on NFT bars and leave comments on personal NFT profiles and pages.

It is similar to Instagram feed, for example, and users will have a special profile link to their wallet and will be able to follow and interact with other users.

Although some of these features – including comments – will be available on Coinbase’s own servers in the middle, the company has said it will make these operations work more slowly and efficiently. move to future impact services.

Coinbase is currently unable to broadcast NFTs through the platform, but this is still on the way. In addition, Coinbase also plans to discontinue new NFT operations from the market, including some developments from its joint ventures.

An NFT is a blockchain-powered token that proves ownership of an item, including graphics, profile pictures, toys, and video game accessories. The NFT market has a market volume of $ 25 billion in 2021, led by OpenSea big business – which is now Coinbase NFT’s largest competitor.

Coinbase NFT attracts many well-known producers and artists for their contributions to the media, including popular works such as Azuki, Doodles and World of Women; creators such as ppplleasr, Gary Vaynerchuk, XCOPY and Pak; and press types, such as newspapers Team and rolling stone.

Actor Bill Murray and rocker Ozzy Osbourne are also on the list with their NFT career.

When Bored Ape Yacht Club (or BAYC) wrote and its founder Yuga Labs was not listed as a Coinbase partnership, the exchange announced a partnership to create a trilogy of short films. as NFT writes.

Yuga Labs also owns the intellectual property of CryptoPunks and Meebits collections after being acquired by Larva Labs recently.

* Translated by Daniela Pereira into Nascimento with permission from decrypt.co.

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