Waitlist For Coinbase NFT Marketplace Climbs Above 1.1 Million On Launch Day
October 14 2021 - 1:00PM
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Coinbase recently announced the launch of its NFT marketplace, much
to the delight of crypto investors. Its aim is to make the minting,
selling, buying, and storing of non-fungible tokens easier for
investors who want to get into the market. It brings this service
to its 68 million-strong user base in its mission to make crypto
more accessible to investors. The NFT marketplace, which is yet to
be opened for trading, will provide competition to the leading
non-fungible token marketplace OpenSea. With its large user base,
Coinbase may be set to be the largest NFT marketplace. Alongside
the announcement of the marketplace was a waitlist sign-up for
interested parties. On the first day following the launch, Coinbase
has already broken the 1 million mark for users who had signed up.
Over 1.1 Million Sign Up For Coinbase Waitlist The waitlist which
is open to everybody has seen a tremendous amount of support. On
its first day, Brian Armstrong, Co-Founder and CEO of Coinbase,
announced that the waitlist had gotten over 1.1 million sign-ups.
Interest in the non-fungible token marketplace has been high and
users have poured out support for Coinbase following the
announcement. Over 1M people have signed up for Coinbase NFT since
we launched yesterday 🤯https://t.co/pNE3nfFmyW — Brian Armstrong
(@brian_armstrong) October 14, 2021 Related Reading
| SpaceBudZ Marks First NFT Sale Above $1 Million On Cardano
Network Traffic to the waitlist had been so high that it had to be
scaled up to accommodate everyone. Coinbase’s Vice President of
Product, Sanchan Saxena, gave the update a few hours after the
announcement went live and assured users that they could keep
signing up for the marketplace. Thanks for your patience everybody
– for the last few hours, we have ramped up and scaled things for
you to be able to sign up for the NFT marketplace. See you there
https://t.co/ysu6Eku84b! https://t.co/kOHbZaPr8P — Sanchan S Saxena
(@sanchans) October 13, 2021 Exchanges Taking The Plunge Into NFTs
The success of non-fungible token platforms like OpenSea has driven
the need for more NFT platforms in the space. OpenSea currently
averages about 260,000 daily users and has seen significant NFT
sales on its platform. This has prompted cryptocurrency exchanges
to begin offering non-fungible token capabilities on their own
platforms. Binance, the largest crypto exchange in the world, had
launched its own NFT marketplace. Its offers users a place to mint,
buy and sell non-fungible tokens without having to go through the
rigorous process of minting the non-fungible tokens directly on the
blockchains. FTX exchange also recently announced the launch of its
very own NFT marketplace. FTX is one of the fastest-growing
cryptocurrency exchanges and has recorded a 397% increase since
January. Related Reading | FTX CEO Sam Bankman-Fried Reveals
Reason Behind Billions Of Dollars Tether Purchase As more exchanges
launch their own NFT marketplaces, speculations are they will
become the go-to platforms for the minting and trading of
non-fungible tokens. Coinbase will launch the marketplace to its
U.S. users first and will roll out the feature to its other
customers over time. “Just as Coinbase helped millions of people
access Bitcoin for the first time in an easy and trusted way – we
want to do the same for the NFTs,” the announcement read. Featured
image from Ledger Insights, chart from TradingView.com
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