Coinbase NFT Introduces New Features As It Struggles To Draw In Traders

More new features are being added by Coinbase NFT for its modest user base.

Since its public beta launch at the beginning of May, the NFT marketplace of the cryptocurrency exchange has received a lot of upgrades. A “Liked” tab, the option to adjust list prices, an insights page, and a notification hub have all been added to Coinbase NFT.

Along with these features, it now allows users to link up to 10 cryptocurrency wallets to a single Coinbase NFT account and includes rarity filters, time-delayed listings, a “Following” feed, and other features.

The platform is still delaying Coinbase fees “for a limited time,” but traders haven’t really materialized.

Coinbase NFT’s marketplace has seen 8,202 unique buyers and sellers

According to independent data from Dune Analytics, since its introduction two months ago Coinbase NFT’s marketplace has seen 8,202 unique buyers and sellers. At the time of writing, there have been 20,765 transactions, which come up to a total volume transacted of about $2.9 million, or 1,468 ETH, according to Dune data.

Even though such figures appear high, they aren’t in comparison. On just Thursday, $15.6 million worth of volume was exchanged on the top NFT platform OpenSea. Approximately 1.9 million registered users of the market-leading platform have completed at least one transaction.

Despite the general crypto bear market and Coinbase’s recent wave of layoffs and retracted job offers—which prompted some disgruntled would-be employees to scream online—the development of Coinbase NFT looks to be continuing.

Some people expressed concerns about Coinbase allegedly selling user data, which Coinbase has disputed, while others claimed the business “failed” with the introduction of its NFT marketplace. Reactions to Coinbase’s new features thread on Twitter were diverse.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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