Coinbase has launched its new NFT marketplace in closed beta today. The popular cryptocurrency exchange doesn’t want to get left behind so its new product will act as a hub for the buying and selling of NFTs. As Coinbase NFT is in closed beta, users will have to join a waitlist that works on a first-come, first-served basis. Once a user has got through the waitlist, they can set up a profile and begin buying and selling NFTs using any self-custody wallet.
To lure people in, the company has said that it won’t be charging users any fees, to begin with, but it does plan to introduce them later on “in-line with Web3 industry standards”. Coinbase said that it will alert people when it plans to introduce these fees so you won’t receive any unexpected charges.
As things stand, Coinbase NFT launches in beta with some essential features such as the ability to connect self-custody wallets, comments on NFTs to build a conversation with your community, a Discover feed to find personalised recommendations, and a simple Shop hub to find everything that’s for sale.
The company said that in the coming weeks and months it will add more features to the service such as drops, minting, token-gated communities, support for NFTs on multiple chains, and the option to purchase NFTs with your Coinbase account or credit card.
As Coinbase NFT matures in this beta phase and eventually arrives for everyone, it will be interesting to see whether NFTs find a more mainstream audience; Coinbase has already done a lot for cryptocurrencies and getting them into more people’s possession so it’ll be interesting to see whether it can replicate this for NFTs.
If you are interested in Coinbase NFT, you can join the waitlist now.