Coinbase to Bring Out Its NFT Marketplace

by in Blockchain News

Coinbase NFTs

On October 12, leading crypto trading platform Coinbase revealed intentions for the release of an NFT marketplace. As mentioned in the blog post published by the company, the P2P marketplace will allow minting, trading,displaying, and exploring NFTs more easily.

Related: NFTs Boost Contemporary Art, Blockchain Industry Grows

The popularity of NFTs has been increasing significantly this year. In Q3, 2021 NFT trading volume broke above $10 bln. NFTs (non fungible tokens) are unique digital assets that can be in the form of digital art, sports cards, and much more.

Coinbase Global (COIN) stock went down by nearly 3% after Cathie Wood, CEO of ARK Investment Management announced selling over 98.000 shares valued at over $25 M at the time.

However, the company still owns Coinbase shares worth around $1.6 billion.