Coinbase has Planned to Roll Out its Own NFT Marketplace

Recently, Coinbase, the most astonishing crypto exchange out there, has made some plans to launch its own non-fungible token platform. The exchange already deals with all kinds of digital assets, cryptocurrencies, and now, with the launch of an NFT platform, it will include various new elements made available to the customers. About ten times more customers have signed up for this new NFT platform which Coinbase will be launching in the upcoming days than OpenSea has had in the past 30 days. Brian Armstrong thinks highly of these non-fungible tokens and the platform that the company is going to develop and is of the idea that the NFT market is big, but it could be bigger.

As every investor and creator in town is going to have a bite of this NFT craze, more and more people are signing up for this new platform about to be launched by Coinbase. Recently the Q3 financial results of Coinbase were made available, reporting $1.2 billion in revenues, which originate mainly from the fees that the platform charges to its customers for the sake of making multiple transactions with cryptocurrencies such as bitcoin and Ether. This might be the most successful crypto exchange out there, with its own stocks being traded on NASDAQ, going for the launch of a completely new and fresh NFT oriented platform.

Bright Future of NFT Industry

The morale is high, and the hopes are fleetingly over the board with this new project as the CEO Brian Armstrong believes himself that this NFT platform might be able to flip the existing crypto business of the firm in terms of collecting revenue and bringing more customers to the platform. Mainly the whole idea with this NFT platform is that people, enterprises, and industries could develop their own non-fungible tokens and then make them available on this new platform being developed by Coinbase.

This way, they would be able to bring out their non-fungible tokens for auction and could start selling them in under minutes. This might be the dawn of NFT space as we know it, as with the availability of a platform, the boost in the development of non-fungible tokens and their sales could be huge.