After first announcing plans for its NFT marketplace in October, crypto holders are eagerly awaiting the Coinbase NFT release date.
The NFT market boomed in 2021, with an average trading volume of $10.7 billion. Indeed, it recorded $5 billion in trading volume in January 2022 alone. To address the rapid surge of NFTs, leading crypto exchanges such as Binance have already extended support to NFTs, adding to the list of places to buy NFTs.
However, Coinbase, one of the major exchanges, is yet to enable NFT trading on its platform, and has recently announced that they are launching its NFT Marketplace in June 2022 along with the new BAYC movie trilogy.
Coinbase NFT Release Date
The Coinbase NFT marketplace has now been released as a beta, as of April 20, 2022.
A select number of individuals on the waitlist will have the chance to store and trade their NFTs on Coinbase, ahead of a wider rollout later this year.
Coinbase has yet to confirm the full release date for its NFT marketplace to more users. However, it does look set to be live by June 2022, Prospective NFT holders can still register on the NFT waitlist, too.
Coinbase said that its NFT marketplace called Coinbase NFT will comprise "social features" and will propagate the concept of "creator economy, "a term used to describe people who earn money by posting online content. It also states that the marketplace will first support Ethereum-based ERC-721 and ERC-1155 tokens, before moving to multi-chain support.
The Verge and TechCrunch both report that Coinbase will launch its NFT marketplace “later this year”. Meanwhile, Fortune said in October that the marketplace will launch within the next quarter or two. Now the exchange has officially announced a new date stating that its NFT marketplace will launch in June 2022 along with the BAYC movie trilogy at NFT.NYC.
NFTs have become a popular investment option for investors, enabling them to own digital collectables exclusively. NFTs are impossible to replicate, allowing investors to own one-of-a-kind digital collectables that cannot be duplicated or forged.
Coinbase NFT Collections
One sign that the Coinbase NFT marketplace launch is coming pretty soon comes from its announcements of launch partners.
Starting on February 8, the Coinbase NFT Twitter account has revealed several NFT collections the exchange will partner with for its NFT launch. The current partners include:
- Pudgy Penguins
- Long Neckie Ladies
Aside from these collections, Coinbase has partnered with several NFT creators, including Baeige, Pak, and Matt Gondek.
For more articles like this, take a look at our Planet Crypto page.