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- NFTs are going to be a very large area for digital assets in the future as per Coinbase CEO
- Coinbase is prepared to soon launch its own NFTs marketplace, as such offerings would significantly boost the exchange’s operations
- The platform will offer a social media-like experience, and enable users to follow different profiles and receive updates
NFTs craze is continuing to grow globally in the world of art, sports, entertainment, games and more. Since the beginning of this year, the space has witnessed tremendous growth. Every individual in the cryptosphere seeks to acquire at least one digital collectible. However, following the demand for crypto collectibles, Coinbase, one of the leading crypto assets exchanges, prepared to introduce its own Non-Fungible Tokens marketplace. It is incredible to witness that more than ten folds of NFT enthusiasts have signed up for the upcoming marketplace of Coinbase, the OpenSea, one of the most popular marketplace saw over the past 30 days.
Coinbase CEO is bullish on NFTs
On Tuesday, one of the early start-ups, Coinbase in the crypto industry that went public this year, shared its Q3 2021 financial results. The crypto exchange is the biggest platform of its kind in the United states. The firm reported $1.2 billion revenue, which was mostly generated from the crypto assets exchange’s transaction fees.
Brian Armstrong, the chief executive officer of the digital assets exchange, unveiled its upcoming NFTs marketplace in a conference call on Tuesday. According to Brian, the firm has already observed the significance of its upcoming crypto collectibles marketplace. Brian further highlighted that the firm is very excited about Non-Fungible Tokens. Indeed, the Coinbase CEO believes that the collectibles industry is going to be a very large area for digital assets in the future.
NFT offering could boost operations
According to Coinbase, assessing the demand and craze for digital collectibles, it seems such offerings will significantly boost the exchange’s operations. Indeed, the upcoming NFTs platform could potentially the digital assets exchange’s entire existing cryptocurrency business. According to Brian, the upcoming collectibles platform could be as big or bigger than their existing crypto operations.
The plan for such a marketplace was officially announced last month. Coinbase will allow its users to create, buy, discover, and showcase Ether-based NFTs. Moreover, the exchange has also revealed that the platform will offer a social media-like experience, and enable users to follow different profiles and receive updates.
Notable craze for Coinbase’s upcoming platform
Since the announcement for an upcoming NFTs marketplace came, a wide number of enthusiasts in the industry expressed willingness to try the offerings. Notably, within just a few days the firm began its NFT waitlist in October, more than a million of individuals globally signed-up. And the number of applicants is continuing to grow at a rapid pace. According to the firm, it has received more than 2.5 million emails from users seeking to register for the upcoming platform. However, the number seems too tiny in accordance with the firm’s 68 million verified users and 8.8 million active monthly users.
