Coinbase Opens NFT Marketplace to All

The crypto exchange has opened the floodgates to its Ethereum-based marketplace after testing the beta version with a select group of users in April.

May 4, 2022 at 5:42 p.m. UTC
Updated May 4, 2022 at 5:51 p.m. UTC

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Crypto exchange Coinbase (COIN) said Wednesday it has opened the beta version of its non-fungible token (NFT) marketplace to the public.

The exchange unveiled the marketplace to a small group of invited users at the end of April, nearly seven months after announcing its launch in October 2021.

The marketplace saw just 900 transactions and 73 ETH (around $210,000) of sales volume in the debut week of its beta, though Coinbase did not say how many users had been granted access to the platform.

Coinbase NFT will look to take a chunk of market share from the NFT marketplace kingpin OpenSea, debuting with zero-transaction fees for a limited time, the company’s vice president of product, Sanchan Saxena, said last month during a press briefing.

The company says it plans to grow its user base in part with a series of NFT collection partnerships tying back to the platform, one of which is a Bored Ape Yacht Club film trilogy to debut at NFT.NYC in June.

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Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

Eli is a news reporter for CoinDesk. He holds ETH, SOL and AVAX.

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