Coinbase is Launching a Marketplace for NFTs

Coinbase is getting into NFTs. The cryptocurrency exchange said Tuesday it plans to launch a marketplace that lets users mint, collect and trade NFTs, or non-fungible tokens. From a report: Users can sign up to a waitlist for early access to the feature, the company said. NFTs are one-of-a-kind digital assets designed to represent ownership of online items like rare art or collectible trading cards. They aren't fungible, meaning you can't exchange one NFT for another like you could with bitcoin and other cryptocurrencies. Sales of such tokens have boomed this year. The NFT market topped $10 billion in transaction volume in the third quarter of 2021, according to DappRadar, a company that tracks data on crypto-based applications.

Re:

[shanen]

Is parent FP a sock puppet, a troll, or a Funny?

Re: Impressive

[e3m4n]

It sounds dead-on like one of those nigerian prince email letters.

Re: I want to buy an NFT

[anonymouscoward52236]

Why buy them when you can make them? Just scribble some nonsense, then charge millions for it.

10 billion...

[IdanceNmyCar]

Think about that... It's just absurd how much money is being thrown around here.

NFTs are the real longevity of value for cryptocurrency and I don't mean in the sense of making some fun artwork. NETS when combined with authenticated addresses could be a means to validate leases, titles, wills, and so much more. Ofcourose no one likes this. The Bitcoin enthusiasts don't like the inherent centralization and technopobics see no value. Yet if blockchains gain any real value it seems wholly based on how NFTs are embraced.

As an exchange, Coinbase has a relatively good position for utilizing NFTs in such a valuable way but I cannot help and think this is yet another money grab... meh.

Re: 10 billion...

[e3m4n]

Im gonna make a NFT of my last cologuard sample. Think someone with too much money laying around would buy it? Lol.

Re:

[Darinbob]

Coinbase just needs to shed it's reputation as a haven for scam artists to collect their money.

Here's Your...

[CRB9000]

Here's your sign...oh, it also doubles as an NFT.

Then it all goes *poof*!

An idiot market

[cjonslashdot]

Idiot: Look! I bought a NFT for this digital artwork!

Idiot: Hey! You have a copy of my artwork! You can't do that!

Non-idiot: Yes I can.

Re: An idiot market

[anonymouscoward52236]

1) go to NFT marketplace website
2) find something you like
3) right click, save as...
4) ???
5) profit!

It is good to know

[Major_Disorder]

That tech has finally created a business for people too slimy to sell used cars.
What a time to be alive.

Minting an NFT?

[ayesnymous]

I don't know the process involved for that, but if I can get a random person to pay millions for nothing, then I'm all for trying it!