As time goes on, it seems like the NFT market is more than a short-term fad. This year has been an emotional ride for crypto investors and NFT collectors. Investors have experienced both extreme highs and lows in the market.
Over the last recent weeks, Bitcoin has been on a great run leaving analysts to predict that it might break through its previous peak. Another part of the crypto market which is starting to gain even more recognition is NFTs.
Coinbase announces that they will be launching an NFT platform. Initially, they will be releasing a desktop version. This seems like great news for NFTs and cryptocurrencies in general.
It’s not yet verified whether it will be accessible to everyone on their platform which is over 56 million users. If that were to happen it will spread the adoption of NFTs among the average user who doesn’t even know what it is.
This move will have them competing with established members such as OpenSea. At this time they are one of the largest NFT marketplaces. Other companies who are quite active in the cryptocurrency space such as Binance and FTX have recently announced their own entries into the NFT marketplace.
This is positive news for Coinbase given their recent regulatory pressures. As for NFTs, we are only at the beginning of this trend. The market will continue to grow once Coinbase launches and the wider society adopts it.
