Non-fungible tokens (NFTs) are becoming more popular over the last couple of months. This bullish adoption of NFTs have also spurged some exchanges into creating marketplaces for minting and purchasing NFTs.
A few days ago, FTX announced the creation of its NFT marketplace. Coinbase, maintaining the trend, has also collected the baton as it announced its plans to launch an NFT marketplace.
According to the release, NFTs have been a way of rewarding creators. However, Coinbase claimed some of creators and buyers always had issues with NFT creation and purchase respectively.
In their view, the team behind Coinbase identified complex user interfaces to be the main problem. Whereas, “creating an NFT should be as simple as tapping a few buttons. Anything more complicated is a barrier to creativity”.
Therefore, the Coinbase NFT marketplace hopes to solve this through by creating interfaces that will make minting and purchasing of NFTs to be simple.
One of the prime features and goals of Coinbase NFT would be, according to the release, the development of a vibrant community. Coinbase believes that there should be a linkage between both creators and buyers to interact and build a community.
Coinbase NFT would have a feed, similar to the social media apps, that will be customized to the interest of the buyers or creators. This will enhance conversation and discovery among the community members.
“Your profile will showcase all your NFTs in one place, helping you connect with like-minded fans or artists. The social element shapes the future by sharing passions, birthing new collaborations, and firing up the imagination,” explained Coinbase.