Coinbase has stated that it intends to make NFTs more accessible to the general population. Though the new NFT platform isn’t accessible yet, Coinbase has started a queue for individuals who want to try it out. Coinbase’s NFT platform will contain social elements, centralized showcases, and discovery capabilities, among other things.
Non-fungible Tokens (NFTs) are the newest blockchain craze; simply put, artists may sell their material as NFTs in return for the cryptocurrency of their choice, creating a unique marketplace for both creators and collectors. But, unfortunately, NFTs aren’t easily accessible to the typical person who dabbles in the market, just like they weren’t in the early days of crypto.
Coinbase NFT, which the firm defines as a peer-to-peer marketplace meant to simplify the entire NFT process, intends to change that. According to the startup, besides supporting the minting and exhibiting of NFTs, the platform will also allow viewers to discover and purchase new goods.
Coinbase claims that their NFT platform would have a user-friendly interface that “hides behind the scenes” the complexity of non-fungible tokens. According to the business, with metadata transparency and decentralized contracts, Coinbase NFT will make it easier for authors to “retain creative control” of their content. The ERC-721 and ERC-1155 Ethereum-based standards will be supported in the initial deployment.
The other features will be curated personal feeds, profiles for showcasing work in a centralized manner, and social tools for establishing communities. Although Coinbase NFT isn’t officially available, customers are encouraged to sign up for early access. Additional details will be released in the future, but no specific launch date has been set.