Trading platform Coinbase, after six years of development, launched beta testing of a platform for trading non-fungible tokens based on Ethereum.
Cryptocurrency exchange Coinbase announced in its blog that it has launched testing of the beta version of its own platform for NFTs. Coinbase Vice President of Ecosystem Products Sanchan Saxena said that any user can take part in testing the new platform.
“We are taking the first step on this path by releasing our beta version. Starting today, anyone can check out the first version of Coinbase NFT at nft.coinbase.com and explore the vast collection of NFTs on the Ethereum blockchain,” Saxena said.
The post clarifies that Coinbase NFT is available to users on a waiting list that has counted millions of potential members since October. The exchange will add users in order of registration and plans to do so in the “coming weeks”.
Coinbase has announced that the peer-to-peer marketplace has launched with support for Ethereum-based NFTs. The exchange noted that it plans to add support for other blockchains in the near future. The company claims that any NFT that is traded on Ethereum will be searchable on the new marketplace.
The company has warned that traders will be able to use their own Coinbase Wallet, MetaMask, and others that support the WalletConnect protocol to trade NFTs. This means that users are fully responsible for their assets stored in a wallet that can be connected to other markets, exchanges and decentralized applications.
At the same time, Coinbase plans to launch additional NFT storage services and will enable users to purchase collectible tokens using a Coinbase account or credit card. Saxena described this planned move as part of an effort to “bring NFT to the masses through this platform.”
Cryptocurrency exchange Coinbase has become so enamored with NFTs that it recently announced its intention to make a three-part film featuring characters from Bored Ape Yacht Club’s non-fungible token (NFT) collection as “actors”.
