The Coinbase NFT Marketplace launched into its beta yesterday, allowing individuals to buy, trade, and view various NFT collections. Oh, and also comment on them.
Described by one user as “Web3 Instagram”, these social elements could set Coinbase NFT apart from the likes of OpenSea and the Binance NFT marketplace. Or, they could devolve into something else.
As more users join the beta, some NFT holders have started sharing the comments they’ve received on their NFTs. And, depending on your stance on NFTs, it makes for an entertaining read, or an investor's worst nightmare.
Coinbase NFT Comment Section
Lots of the Coinbase comments are harmless. Whether it's praising the NFT or commenting “WAGMI”, most users are just celebrating this new way to interact with fellow NFT holders.
However, this isn’t the case for all. Two types of comments have started to emerge on the platform, posing at least a slight concern to those using it, or entertainment for those not.
Tribalism is not a new phenomenon online. Console wars have been happening since the SEGA vs Nintendo era, now replaced with Xbox vs PlayStation. Even in the cryptocurrency space, Bitcoin vs Ethereum, or Dogecoin vs Shiba Inu can result in some pretty hectic keyboard battles.
And now, the NFT wars are on full display, right below their listings. Several of the CryptoPunk NFTs have received comments stating Bored Ape Yacht Club NFTs are better.
While some users have noted this is no different than your standard NFT debate on Twitter, there is another angle here. Having comments underneath your listing directly slamming your NFT could deter individuals from purchasing them.
Indeed, some of the comments are likely ironic, or jokes between friends, like this one above. But as decades of online chat have taught us, this isn’t always picked up.
Alternatively, others are doing the opposite - posting praise about the NFTs aesthetic. Acting almost as quasi-reviews, could these comments soon impact the pricing of listed NFTs?
Floor Price Defenders
Almost at the opposite end of the comments, many NFT holders are expecting some pretty negative comments to happen when individuals sell their NFT at lower prices.
ThreadGuy.eth jokingly noted the dangers of this. “Imagine you undercut the floor on Coinbase NFT and get death threats in the comments,” they said on Twitter.
While these may just be jokes, it seems some users are already starting to do this as the prices of NFTs fluctuate.
“Stop undercutting p*ssy,” wrote one user on an Azuki NFT listed for 29 ETH - the lowest available on Coinbase in the collection.
Other users have also commented on NFTs they deem to be sold for too little.
Regardless of these types of comments, many in the NFT community seem open to them, if not excited about the potential entertainment it could bring to the space. Others, however, seem convinced the comment section won’t last.