{"id":351887,"date":"2021-10-12T22:00:00","date_gmt":"2021-10-12T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-follows-ftx-and-binance-in-launching-nft-marketplace\/"},"modified":"2021-10-12T22:00:00","modified_gmt":"2021-10-12T19:00:00","slug":"coinbase-follows-ftx-and-binance-in-launching-nft-marketplace","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-follows-ftx-and-binance-in-launching-nft-marketplace\/","title":{"rendered":"# Coinbase follows FTX and Binance in launching NFT marketplace"},"content":{"rendered":"<p>&#8220;<strong># Coinbase follows FTX and Binance in launching NFT marketplace  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvY2NkYWExODQtMDIyOC00OTM2LWI5NWMtOGFhN2Y2ZGNkMDRiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Major crypto exchange Coinbase has announced it will be opening a waitlist for a nonfungible marketplace it plans to launch later this year.<\/p>\n<p>In an Oct. 12 blog post, Coinbase vice president of product and ecosystem Sanchan Saxena <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.coinbase.com\/coinbase-nft-is-coming-soon-join-the-waitlist-today-for-early-access-cc7bac29fd72\">said<\/a> the nonfungible token, or NFT, marketplace would allow its users to mint, purchase, discover, and showcase Ethereum-based tokens. According to Saxena, the offering will allow creators to maintain control of their artwork \u201cthrough decentralized contracts and metadata transparency,\u201d with all NFTs on-chain. <\/p>\n<p>The Coinbase announcement comes following crypto exchange FTX and its U.S.-based subsidiary introducing a marketplace with users able to trade NFTs cross-chain through the Ethereum and Solana blockchains. Binance, the world\u2019s largest crypto exchange, entered the NFT market in June by launching its own marketplace aimed to minimizing transaction costs. <\/p>\n<p>With 68 million <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/s27.q4cdn.com\/397450999\/files\/doc_financials\/2021\/q2\/Coinbase-Q221-Shareholder-Letter.pdf\">verified<\/a> users and 8.8 million monthly active users as of Q2 2021, Coinbase\u2019s entry to the NFT industry could provide competition for established marketplaces like OpenSea and Rarible. OpenSea\u2019s head of product Nate Chastain is facing criticism for using burner wallets to purchase NFTs on the platform so the artwork could receive more attention on the website\u2019s front page. The platform mainly uses Ethereum, which dominates sales in the NFT market.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Blockchains vie for NFT market, but Ethereum still dominates \u2014 Report<\/em><\/strong><\/p>\n<p>According to data from D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>Radar, the total transaction volume on OpenSea <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dappradar.com\/nft\/marketplaces\">was<\/a> $8.7 billion at the time of publication, making it the biggest NFT marketplace. NFT sales through the Pokemon-inspired Axie Infinity <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> came in second at $2.5 billion.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-follows-ftx-and-binance-in-launching-nft-marketplace\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Coinbase follows FTX and Binance in launching NFT marketplace &#8221; Major crypto exchange Coinbase has announced it will be opening a waitlist for a nonfungible marketplace it plans to launch later this year. In an Oct. 12 blog post, Coinbase vice president of product and ecosystem Sanchan Saxena said the nonfungible token, or NFT,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":351888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvY2NkYWExODQtMDIyOC00OTM2LWI5NWMtOGFhN2Y2ZGNkMDRiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74956,74860,95118,117,86389],"class_list":["post-351887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-coinbase","tag-cryptocurrency-exchange","tag-nft","tag-business","tag-marketplace"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/351887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=351887"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/351887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/351888"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=351887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=351887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=351887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}