After first announcing plans for its NFT marketplace in October, crypto holders are eagerly awaiting the Coinbase NFT release date.
The NFT market has boomed in 2021, with an average trading volume of $10.7 billion. To address the rapid surge of NFTs, leading crypto exchanges such as Binance have already extended support to NFTs.
However, Coinbase, one of the major exchanges, is yet to enable NFT trading on its platform, sparking heavy speculation among investors who are anticipating the launch of NFTs.
Coinbase NFT Release Date
Coinbase has yet to confirm the official release date for its NFT marketplace, with the announcement page still stating NFTs are ‘Coming Soon’. 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. This suggests an early-to-mid 2022 release could be on the cards.
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.