Brian Armstrong, the CEO of Coinbase (a crypto exchange), stated that the company intends that its latest NFT (non-fungible token) marketplace should have an interface like Instagram (a social network for video and photo sharing). During the call of Coinbase for its Q3 earnings, the CEO mentioned that he considers NFTs to ultimately become a competitor of conventional trading of cryptocurrency.
He added that a considerably vast area in the future and much like that is in advance secured by NFTs presently. He mentioned that previously Coinbase had its attention centered on fungible tokens (FTs), and now the company is similarly enthusiastic about NFTs. He expects this field to inflate consistently.
Armstrong disclosed that Coinbase requires a venue having an interface like Instagram, through which things could get simplified for the consumers who want to be familiar with the trading of NFTs. He suggested that Coinbase NFT should be considerably like Instagram instead of the forums, including eBay.
He additionally expressed that it would be commendable if the creators or the artists may have a connection with the consumers through such a platform that can better synchronize them with each other. The respective forum, he revealed, would also provide the opportunity for the clients to purchase NFTs of their choice and showcase them in their portfolios.
He moved on to describe that the target of the unique marketplace is interoperability with the other venues. He also provided a vague timeline for the probable launch of the Coinbase NFT. He anticipated that the company would make the utilization of NFTs a much convenient activity for the customers thereof. In his perception, the chief promise that the venue has made with the NFT community and which it consistently attempts to get at, is incorporating a vast majority of people into the world of cryptocurrency. While discussing this field, he presumed it to have become a global concept.
He assured that the group is dedicated to guaranteeing that the consumers feel comfortable while working between platforms. The launch of the platform, he pointed out, is likely to be carried out during the coming two quarters. The exchange declared in October to launch an NFT marketplace. As per Sanchan Saxena (the VP of ecosystem and product), the respective platform struggled a lot to be as user-friendly as it should be.