Coinbase is going to launch an NFT marketplace soon

Cryptocurrency exchange Coinbase has announced that it will launch its own NFT marketplace soon. The representatives of the exchange met with more than 100 creators of digital content to discuss tools and new features that will be implemented in the Coinbase NFT platform.

According to the idea of the exchange’s team, the main signature plank of the new marketplace will be its social function, which will help users and artists interact better. It is reported that there is no clarity on when this marketplace will be launched.

The company announced the development of the NFT marketplace last autumn. At least 1 million people have already joined the Coinbase NFT waitlist.

According to Coinbase CEO Brian Armstrong, the NFT market could be bigger than the cryptocurrency market. One of the reasons for this may be that collectible tokens will soon come to the social networks and intensify the user experience.

Earlier this year, Coinbase started cooperation with Mastercard, which will allow users to purchase NFTs for fiat money. Mastercard will provide its clients with the opportunity to buy NFTs on the Coinbase platform with bank cards. Previously, collectible tokens could only be bought for cryptocurrencies.

Instagram also works on the introduction of non-fungible tokens. This was announced by Meta head Mark Zuckerberg during the SXSW conference. He said that the function of creating NFT may appear on Instagram in the coming months. However, Zuckerberg did not specify the exact timing.

Meta head also allowed the possibility of creating collectible tokens using the clothes of digital account pictures. In addition, users will be able to show the NFTs they have created or sign up for a priced subscription to their favorite artists. Earlier, Instagram CEO Adam Mosseri also announced the introduction of NFTs.

Samsung Electronics, which is based in South Korea, has announced the release of a new smart TV lineup with an NFT marketplace. A special application supporting NFT will be added to the new MICRO LED, The Frame and Neo QLED TVs. The line will be on sale this year.