Coinbase has announced plans to make NFTs more approachable for the general public. Though the new NFT platform isn’t available right now, Coinbase has launched a waitlist for those who are interested in trying it out for themselves. Among other things, Coinbase says its NFT platform will include social features, centralized showcases, and discovery features.
Non-Fungible Tokens (NFTs) are the latest blockchain fad; put simply, creators can sell content as NFTs in exchange for the crypto of their choice, providing a unique marketplace for creators and collectors. As with the early days of crypto, NFTs aren’t readily accessible to the average person who only dabbles in the market.
Coinbase aims to help change that with Coinbase NFT, which the company describes as a peer-to-peer marketplace designed to simplify the entire NFT process. The company says that in addition to facilitating the minting and showcasing of NFTs, the platform will also enable viewers to discover new offerings they may like and purchase them.
Coinbase says its NFT platform will have a user-friendly UI that hides the complexity of non-fungible tokens “behind the scenes.” The company says Coinbase NFT will make it easier for creators to “maintain creative control” of their content, including with metadata transparency and decentralized contracts. The initial launch will support ERC-721 and ERC-1155 standards, both of which are Ethereum-based.
Other features will include curated personal feeds, profiles to showcase work in a centralized way, and social tools for forming communities. Coinbase NFT isn’t yet available, but the company is encouraging its users to sign up for early access. Additional information will be made available in the future, though a launch date hasn’t yet been provided.