आईसीटी समाचार
Coinbase is set to launch a peer-to-peer marketplace for non-fungible tokens, or digital collectibles (NFTs). Users will be able to discover, mint, acquire, and display their NFTs on the US-based crypto exchange. The launch date for this platform has yet to be determined. Existing participants in the space, such as OpenSea and LooksRare, will compete with the Coinbase NFT platform.
NFTs are based on blockchain technology and are essential components of the metaverse industry. NFTs can be influenced by a variety of things, including video games, music, and movies. Coinbase revealed the news on Twitter, as well as the fact that it is developing its NFT marketplace in response to community comments. The startup, which was created in 2011, is currently talking to NFT inventors to get their feedback.
The cryptocurrency exchange originally revealed its plans to launch an NFT marketplace in 2021. According to Fortune, Coinbase predicted at the time that its NFT business may be more successful than its crypto business. Over 2.5 million people have signed up for the Coinbase NFT waiting list, according to reports. In 2021, the total value of NFT sales surpassed $25 billion. Platforms such as the New York Stock Exchange, Rakuten, and Parler have recently began to implement their separate ambitions to enter the NFT market.
However, according to current Google Trends data, NFT-related search traffic dropped dramatically in March 2022. Likewise, NonFungible data from the NFT resource has shown that NFT transaction volume each week is decreasing. According to their data, the average selling price of an NFT has dropped to about $2,000, down from an all-time high of over $6,900 at the start of 2022.
The categorization of NFTs is a matter that is currently being debated in numerous regions of the world. The Securities and Exchange Commission in the United States is investigating NFT developers and the markets where they trade to see if any of the assets violate the agency's guidelines. The South Korean government has yet to say whether or not NFTs are considered virtual assets.
