Key takeaways:
- Coinbase has recently given an update on the status of its NFT marketplace and noted that it is launching soon
- The exchange has reportedly met with more than 100 creators to gauge their thoughts about the upcoming product
- Coinbase is entering the space currently dominated by OpenSea
Coinbase is seeking feedback from digital artists ahead of the NFT marketplace launch
It’s been months since Coinbase first announced it will enter the booming non-fungible tokens (NFTs) market with its own marketplace offering. While some of the exchange’s main rivals, like Binance, FTX, and Bybit, had already launched their respective NFT products, Coinbase’s process of releasing its own offering has been moving at a very slow pace.
On Monday, the exchange gave an update on the status of the NFT market and noted that the digital collectibles marketplace is coming “soon.” The publicly-traded company also revealed that they have met with more than 100 creators in pursuit of building the product “based on community feedback.”
Earlier this year, Coinbase joined forces with payments giant Mastercard to make the NFT buying experience more accessible. “Coinbase wants to simplify the user experience to allow more people to join the NFTs community,” wrote the exchange at the time.
The company initially announced its plans of launching its own NFT marketplace in October 2021. While several major exchanges mounted a considerable push into the NFT space in recent months, the sector is still largely dominated by OpenSea, which had its best month ever in January.
