Cryptocurrency exchange Coinbase has launched its NFT marketplace in beta.
Coinbase NFT is described as a Web3 social marketplace for discovering and trading non-fungible tokens – empowering people to create, collect and connect.
Beta testers can create a Coinbase NFT profile to buy and sell NFTs on the Ethereum blockchain – also using wallets outside of Coinbase – with no transaction fees for a limited period.
It allows users to create a profile curated with their NFTs, follow others and comment together directly on NFTs. Comments can be upvoted and downvoted, Reddit-style.
It also aims to offer personalised NFT recommendations based on purchases made, what’s trending and who they follow.
Future developments include NFT drops, minting, token-gated communities and the option to buy NFTs with a Coinbase account or credit card.
It will also add support for NFTs on multiple chains, with features moved from ‘Coinbase tech’ to decentralised solutions over time.