Cryptocurrency exchange Coinbase is launching a peer-to-peer market for non-fungible tokens (NFT). The NASDAQ-listed company that “Coinbase NFT” will make “forging, buying, displaying and discovering NFT easier than ever.” In addition, Coinbase stated, “We will grow the creator community exponentially, which is a victory for artists and fans.”

Coinbase NFT helps the creator community “exponentially” grow

Coinbase, a NASDAQ-listed cryptocurrency exchange, announced on Tuesday that it will launch a non-fungible token (NFT) market. Sanchan Saxena, Vice of Products at Coinbase, wrote:

Today, we announced the launch of Coinbase NFT, a peer-to-peer market that will make casting, buying, displaying and discovering NFT easier than ever.

“Just as Coinbase millions of people access Bitcoin in a simple and credible way for the first time-we want to do the same for NFT,” he added.

Coinbase launches NFT market with social functions to
Screenshot of Coinbase’s NFT system. Source: Coinbase

Coinbase further explained: “All NFTs are on the chain. The initial release will support ERC-721 and ERC-1155 standards based on Ethereum, and plans to provide multi-chain support in the near future. We will provide the best user experience, But we will never lock in creators.” Interested users can now register for Early Access.

The Vice of Coinbase pointed out, “Industry such as fashion, games, and music are recognizing the power of NFTs to unleash new forms of creativity and ownership,” the Vice President of Coinbase pointed out, “If you try to create or an NFT, you may have found a lack of user experience. .”

Coinbase aims to simplify the process and stated: “We have put complexity behind the scenes by building a user-friendly interface to make NFT more accessible. We are adding social features to open up new avenues for conversation and discovery.” The vice emphasized:

We will develop the creator community exponentially, which is a win-win situation for artists and fans.

What do you think of Coinbase’s launch of the NFT market? Let us know in the comments section below.

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