Coinbase opens up its NFT marketplace

The platform will be available just to a small group of invited users, but everyone else could just look at the collection.

Cryptocurrency exchange Coinbase (COIN) announced that the beta version of its non-fungible token (NFT) marketplace is now open to all users.

First announced in October last year, Comibase unveiled its marketplace to a small group of invited users just at the end of April.

From now on, anyone can check out the first version of Coinbase NFT at nft.coinbase.com and explore the vast collection of NFTs on the Ethereum blockchain featured creators like Doodles, Boss Beauties, and Azuki. A small set of beta testers will be invited (based on their position on a 1.5 million platform waitlist) to create a Coinbase NFT profile to buy and sell NFTs using any self-custody wallet. Everyone else could just look at it but not use it. For a limited time, there’ll be no Coinbase transaction fees on the platform, but will eventually add fees in-line with Web3 industry standards providing notice before anything changes.

IT’S ALL HAPPENING!

We’re super excited to announce we're opening @Coinbase_NFT Beta up to everyone.

Go set up your new profile now → https://t.co/yBSzpEo7Ar pic.twitter.com/ECjaJhjo60

— Coinbase (@coinbase) May 4, 2022

“Last year we announced Coinbase NFT, a Web3 social marketplace for NFTs. Since then, we’ve been building in the open and getting input from the NFT community” said the company in a statement. “We shared previews of our progress with collectors and creators and received amazing feedback. We learned that people don’t just want better tools to buy and sell NFTs: they want better ways to discover them, better ways to find the right communities, and better spaces in which they can feel connected with each other. That’s why we’re building a product that’s much more than a transaction. We’re looking to empower people to create, collect, and connect.”

“In the coming weeks and months, we’ll add more features that will gradually bring our vision for a web3 social marketplace to life. We’re planning to add drops, minting, token-gated communities, and the option to buy NFTs with your Coinbase account or a credit card. We’ll also add support for NFTs on multiple chains. And over time, we intend to decentralize more features by moving them from Coinbase tech to decentralized solutions” explained Coinbase.