NFT Marketplace Launches in Beta on Coinbase Exchange

　　Coinbase Global Inc, a Nasdaq-listed cryptocurrency trading platform, has announced the debut of the Beta version of its Non-Fungible Token (NFT) marketplace, months after announcing plans to launch the service.

　　Coinbase stated at a press conference that the Beta version is only available to a small group of customers who were chosen based on their position on the queue when it was launched for registration last year.

　　Only Ethereum-based collections such as Doodles, Azuki, World of Women (WoW), and Where My Vans Go will be available on the Coinbase NFT marketplace at launch. For a limited period, no costs will be paid, and when fees are charged, they will be in the single digits and competitive with industry standards, according to the trading platform.

　　Growth Strategies for the Non-Financial-Transactions (NFT) Market

　　Coinbase is launching its NFT marketplace well aware that there are dominant competitors in this industry, like OpenSea, Rarible, and LooksRare, among others. Based on this information, Coinbase has designed its marketplace to be much more than a trading platform for digital artworks and collectibles, but also a catalyst for community building.

　　“We're developing a marketplace where you can buy and trade NFTs, but more importantly, you can engage,” said Sanchan Saxena, VP of Product at Coinbase Exchange. “You can communicate with the creator. You can communicate with the collector. You can also interact with other collectors in a community centered on that NFT. This is a critical component of our plan.”

　　Coinbase stated it has teamed with 0x Protocol to explore every option to make its new marketplace appealing to its vast user base right from the outset, in order to lower the gas charge borne by consumers.

　　Because of the increased use of NFTs, leading trading platforms such as Binance, FTX, and OKCoin, among others, have launched their own marketplaces. With the support of Coinbase investors, the company is dedicated to develop a competitive outfit that is as simple as its core crypto trading platform.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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