Coinbase announces NFT marketplace launch

The Nasdaq-listed bitcoin exchange Coinbase announced the creation of a platform for non-fungible tokens (NFTs).

Hello Punks and Penguins
Hello Cats and Kitties
Hello Apes and Art Blocks

We’re excited to announce the fast-approaching launch of Coinbase NFT, a new peer-to-peer marketplace where you’ll be able to create, buy, sell, and share NFTs.

Learn more here 👉 https://t.co/EsScpBP59i pic.twitter.com/YeMhS5cyII

— Coinbase (@coinbase) October 12, 2021

According to the statement, Coinbase NFT will give users the ability to issue, buy, and display collectible digital assets.

Initially the marketplace will support ERC-721 and ERC-1155 tokens on Ethereum. The company plans to add other networks in the future.

Coinbase described the upcoming NFT platform as a “peer-to-peer marketplace”.

The company opened a waitlist for early access to the service.

“Buying and selling will be core features of Coinbase NFT. We will have a dynamic, secure marketplace. But we believe we can do much more. We are designing social relationships. By strengthening connections, the platform will help creators, collectors, and fans build a community,” Coinbase said.

Earlier in the year, Bank of America optimistically assessed the prospects for the NFT sector, while Chinese state media warned of a potential bubble in the segment.