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Coinbase launches NFT marketplace in beta

April 21, 2022

Coinbase launches NFT marketplace in beta
Coinbase (COIN) is launching its long-awaited NFT marketplace Wednesday with a focus on trying to create a social community for buyers and sellers.

“This product is more than just buying and selling,” Sanchan Saxena, VP of product for Coinbase, said. “It’s about building your community. It is about making sure that you can connect and engage with them on the platform.”
 
Coinbase needs to deepen social engagement in the NFT marketplace creates a community for NFTs notwithstanding a marketplace to trade NFTs. Besides exploring what’s for sale, clients can create a profile and curate it with the NFTs they’ve created, remark on NFTs, or start conversations with other NFT holders and sellers. Like Twitter, clients can build followers and discover other collectors and creators.
 
“The community aspect has become a really important part, nearly as significant as the art itself,” said Lucréce, an NFT creator on Coinbase’s platform. “At the point when you create a community, they’re your advocates. As a single creator, I don’t have a major group. So, the people that share your vision, and your long-term goals, are people you need to have engaged with you. NFTs are inherently a social thing.”

NFTs, or non-fungible tokens, are certificates of authenticity that show proof of ownership for digital collectibles. 
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