Coinbase, a notable cryptocurrency exchange, and a publicly listed company announced that it was launching its NFT social marketplace in beta form.
For now, beta testers are allowed to make profiles and experience the Web3 marketplace without having to pay any transaction fees.
The announcement was made on Coinbase NFT’s official Twitter account,
“Today we kick things off with a full-access experience for some of our waitlist frens. As we ramp up, everyone can explore the vast collection of NFTs on the first version of Coinbase NFT. “
The tweet went on to state, “For a limited time, there’ll be no Coinbase transaction fees. We’ll eventually add fees, which will be in-line with Web3 industry standards, and we’ll provide notice ahead of time. ” In
its Twitter thread, Coinbase NFT noted the way the feature will be accessed.
“Beta testers will be able to create a profile to buy and sell NFTs using ~any~ self-custody wallet, whether that’s @CoinbaseWallet or something else.”
The beta option allows users to comment on the NFTs that are listed on the platform, attracting both positive and negative comments.
It has led to mixed reactions from some Twitter users. As Jason Yanowitz of Blockworks tweeted, “Coinbase didn’t launch an NFT platform… they launched Web3 Instagram.”
Some NFT Twitter users believe that Coinbase may remove the comment option once it leaves the beta stage.
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