Coinbase follows FTX and Binance in launching NFT marketplace

Coinbase follows FTX and Binance in launching NFT marketplace


Major crypto exchange Coinbase has announced it will be opening a waitlist for a nonfungible marketplace it plans to launch later this year.

In an Oct. 12 blog post, Coinbase vice president of product and ecosystem Sanchan Saxena said the nonfungible token, or NFT, marketplace would allow its users to mint, purchase, discover, and showcase Ethereum-based tokens. According to Saxena, the offering will allow creators to maintain control of their artwork “through decentralized contracts and metadata transparency,” with all NFTs on-chain.

The Coinbase announcement comes following crypto exchange FTX and its U.S.-based subsidiary introducing a marketplace with users able to trade NFTs cross-chain through the Ethereum and Solana blockchains. Binance, the world’s largest crypto exchange, entered the NFT market in June by launching its own marketplace

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