Coinbase plans to launch its own NFT marketplace by the end of the year as it rides digital asset boom

Coinbase plans to launch its own NFT marketplace by the end of the year as it rides digital asset boom

Coinbase NFT is joining the NFT bandwagon by launching its own marketplace by the end of the year. The largest cryptocurrency exchange in the US on Tuesday said Coinbase NFT, its peer-to-peer marketplace, will allow users to mint, purchase, showcase, and discover NFTs. The initial launch will support -based ERC-721 and ERC-1155 standards with plans to roll out multichain support later. The company said it wants creating an NFT, or a non-fungible token, to be as simple as tapping a few buttons. "Anything more complicated is a barrier to creativity," it said in its statement. To personalize the experience, Coinbase said users can create their personal feeds to help them connect with like-minded artists. The exchange is opening up the for early access to Coinbase NFT on Tuesday. The announcement of Coinbase comes as other cryptocurrency exchanges have thrown their hats in the NFT ring. Sam Bankman-Fried's FTX on Monday announced the , its NFT marketplace that will allow users to mint, hold, authenticate, and trade digital collectibles on the blockchain. FTX said it also has plans to roll out support for -based tokens. NFTs - of artwork, sports cards, or other collectibles tied to a blockchain - have surged