After teasing its release early last year, American cryptocurrency company Coinbase launched the beta for its NFT trading marketplace. Making economic freedom attainable for everyone is Coinbase’s vision — and by making creator economy more accessible, it’s doing just that. The platform is set to be a Web3 peer-to-peer social platform emphasizing “collecting, creating, and connecting” NFT communities. The platform's beta version is Ethereum-based and available to US residents starting April 20th, 2022, with first access granted to those on the waitlist. Once testing completes, the platform will become accessible to users worldwide.
Users will be able to create their profile featuring their created or collected NFTs, follow other profiles, and comment on NFTs from other users on the platform.
The platform features a wide range of brands like Doodles, Azuki, and TIME Pieces.
Image Credit: Rafael Henrique/Sopa Images/Lightrocket/Getty Images
Why This Trend Is Growing
- Web3 NFT Marketplaces
- Opportunity for new NFT trading platforms to incorporate Web3 technology and emphasize collecting, creating, and connecting NFT communities.
- Social NFT Platforms
- Disruptive innovation by incorporating social elements, such as profiles, followers, and commenting, into NFT trading platforms.
- Accessible Creator Economy
- Trend towards making the creator economy more accessible for everyone through NFT trading platforms, aligning with Coinbase's vision of economic freedom for all.
Industries Being Reshaped
- Cryptocurrency
- Opportunity for cryptocurrency companies to enter the NFT trading market and leverage their expertise and resources.
- Art and Collectibles
- Disruptive innovation by digitalizing art and collectibles through NFTs, providing new opportunities for the industry and changing the way the art market operates.
- Social Media
- Opportunity for social media companies to integrate NFT trading into their platforms and combine the benefits of social networking with the creator economy.
