Coinbase made the announcement on Twitter, while also revealing that it is building its NFT marketplace based on community feedback.
Wen Coinbase NFT? Soon.
We recently met with 100+ creators and we’re continuing to build the product based on community feedback. We appreciate your patience and can’t wait to show you what we’re cooking up.
, -Coinbase NFT
— Coinbase NFT (@Coinbase_NFT) March 14, 2022
The company, founded in 2011, is now working with NFT creators to receive feedback. The crypto exchange first revealed its intention to bring the NFT marketplace in 2021. According to Fortune, at the time Coinbase claimed that its NFT business could be more successful than its crypto business.
Coinbase NFT has reportedly received over 2.5 million registrations on the waiting list to join the platform.
The volume of NFT sales crossed the $25 billion mark (about Rs 1,84,700 crore) in 2021.
Recently, platforms such as the New York Stock Exchange, Rakuten, and Parler have started implementing their respective plans to enter the NFT space.
NFT resource NonFungible data also indicated that the business volume per week for NFTs is declining. They have found that the average selling price of NFTs has dropped below $2,000 (approximately Rs 1.5 lakh) from an all-time high of around $6,900 (approximately Rs 5.3 lakh) at the beginning of 2022.<!–
–>
,