NFT’s Are About To Find An Official Home

A lot of people have concern over NFT’s.

The new digital asset class has some promising use cases, such as the securitization of the collectibles market, but at this point the NFT space is in its wild west phase.

This lack of any clear standards, central market places, or large key players, to facilitate transactions has left many people feeling weary about investing in NFT’s.

All of this may soon change…..

According to the latest reports, Coinbase is planning on launching an NFT marketplace sometime in 2021.

Coinbase has yet to make an announcement as to which blockchains will be supported, but much of the NFT activity is taking place on the Ethereum network. It isn’t very hard to guess that at least Ethereum will probably be supported.

Here’s what we currently know:

The market leading crypto exchange in the United States @coinbase is dropping an NFT Marketplace.

Huge for the space, we are very early, well done @brian_armstrong! 🤩🚀

— brycent 👑🚀🚀 (@brycent_) October 12, 2021

There are 70,000,000 wallets on Coinbase about to enter the NFT space and you’re still worried about short term floor prices

— Farokh.eth (@farokh) October 12, 2021

CNBC confirmed:

Coinbase is getting into NFTs.

The cryptocurrency exchange said Tuesday it plans to launch a marketplace that lets users mint, collect and trade NFTs, or non-fungible tokens. Users can sign up to a waitlist for early access to the feature, the company said.

NFTs are one-of-a-kind digital assets designed to represent ownership of online items like rare art or collectible trading cards.

Fixed the Coinbase NFT website @Vince_Van_Dough pic.twitter.com/i7XjEsko5u

— Faia (@scaveth) October 12, 2021

If @coinbase can make the NFT buying experience easier for the normies then it’s GG.

— hotlneblng.eth🍌👽 (@hotlneblng_) October 12, 2021

Crypto Briefing explains:

It’s not yet clear which blockchains Coinbase NFT will support, though it’s very likely that it will host Ethereum NFTs at the very least.

Though other Layer 1 blockchains like Solana, Polygon, Fantom, and Binance Smart Chain have all hosted NFTs in various forms this year, Ethereum is widely considered the home of the ecosystem (Gxhsts and MoonCats are both Ethereum projects).

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