Coinbase Announces Testing of Its Own NFT Platform

by in Cryptocurrency News


The largest cryptocurrency exchange in the United States, Coinbase, has announced the start of beta testing of its own NFT platform. As of today, it is known that more than 8M users who have already pre-registered are waiting for the launch of a platform for trading non-fungible tokens.

Coinbase developers will do their best to launch the NFT platform in the coming weeks. It is noted that the site will be available only to those citizens who are already 18 years old.

According to reports, users who will be admitted to beta testing will be able to create their online profiles and buy and sell non-fungible tokens.

Trending: ProShares Bitcoin Futures ETF Will Start Trading on Oct. 18

As part of a recent press conference, Coinbase Vice President Sanchan Saxen, who is responsible for the development of the company's ecosystem and its digital products, shared some more details with reporters regarding the upcoming testing. According to the man, the Coinbase NFT platform will have a very interesting and specific interface. Thus, the design of the trading platform will be a cross between a social network and an NFT platform similar to OpeaSea.

“Undoubtedly, the process of buying and selling non-fungible tokens is one of the most important moments in our ecosystem. However, after talking with a large number of experts and developers, we decided to create something more than a trading platform. Our platform will become a large-scale interaction base between clients and creators of NFT collections,” added the vice president.

Thus, it turns out that all users of the trading platform will have the option to view the profiles of collection creators and other participants in the ecosystem. Potential buyers will be able to leave comments under NFT products and get acquainted with the history of the creation of coins, as well as their technical characteristics. All this will allow Coinbase to take a huge step towards the development of the industry of non-fungible tokens, establishing a close communication link between sellers and buyers.