Not only is the number of nonfungible token (NFT) collections growing at a phenomenal rate, but so are the NFT marketplaces. Previously, NFT marketplaces were mainly decentralized applications (dApps) on various blockchains, but nowadays, crypto exchanges are also seeing the benefits of having their own NFT marketplace. This includes Coinbase, the exchange with the most users worldwide, which, of course, cannot lag behind the competition.
The American crypto exchange was founded in 2012 and was initially mainly involved in the buying and selling process of cryptocurrencies. Over the years, additional services have been added such as staking cryptocurrencies on Coinbase and establishing its own NFT marketplace. This is a big step for the adoption of NFTs, as tens of millions of people worldwide are using Coinbase. For many millions of people, this makes it a lot easier to invest in NFTs.
Can I buy NFT art on Coinbase?
It is definitely possible to buy NFT art on Coinbase. While the Coinbase NFT marketplace is still in the Beta version, anyone can use it. The layout is similar to OpenSea, but the advantage of Coinbase is that you can find NFTs from different NFT marketplaces here too! Furthermore, the Coinbase marketplace allows you to pay with Ether (ETH), just like on OpenSea.
To buy NFTs on the Coinbase marketplace, you need a crypto wallet that is connected to the platform. You will also need ETH in your wallet so you can buy NFTs and pay the gas fees. In a later stage, wrapped Ether…