Coinbase CEO Brian Armstrong announced on Twitter yesterday that the Coinbase NFT marketplace has had 1 million registrations since October 13 and the number of subscribers continues to grow.

Coinbase Market has 1 million registrations in one day

Coinbase recently announced its platform for non-fungible tokens (NFTs) and has collected a million signups on its waiting list.

This number is from an anonymous Bloomberg source who is unclear if some of the registrations are duplicate or spam.

“We’re getting a lot of registrations – thank you for your interest,” tweeted Coinbase VP of Product Sanchan Saxena.

“We are seeing tremendous load on our servers and our team is working hard to solve this problem. Check back soon! “

And the announcement became even more secure when the platform’s CEO confirmed it on Twitter: “Since our launch yesterday, over 1 million people have signed up for Coinbase NFT.”

Coinbase Markets NFT

The surge in registrations represents an unusual demand for the new peer-to-peer marketplace that was announced by Coinbase just earlier this week. Coinbase says it will include social features to make it easier to discover newly introduced sections and collections. There are also plans to offer a “personal feed” based on users’ interests and preferences for NFT.

With the launch of the platform, Coinbase hopes to compete with the recently launched Solana NFT platform from FTX and market leader OpenSea. On August 28, the NFT market hit a daily high of $ 225 million, users at 38,000 and trading at 112,000, according to DappRadar. Additionally, NFT’s daily revenue peaked nearly $ 268 million on all platforms that day, according to Non-Mushible.

That same month, however, NFT peaked, and Coinbase warned that customer usage slowed at the beginning of the third quarter. Faced with industry competition from Robinhood and Twitter, Coinbase launches on the NFT marketplace to diversify its offerings.

According to Julie Chariell of Bloomberg Intelligence, NFT is the “next frontier” for Coinbase and could therefore become a lucrative business for the exchange next year.

Coinbase NFT uses ERC-721 & ERC-1155 to improve user experience

Coinbase NFT ensures an enhanced user experience as its NFT marketplace integrates various social functions that support the same thing, along with the ERC-721 and ERC-1155 standards that make it easier to support multiple chains.

“We’re making NFT more accessible by developing user-friendly interfaces that reduce the complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery … The first launch will support Ethereum-based standards ERC-721 and ERC-1155, with support for multiple chains planned for later. We will provide the best user experience, but we will never ban the creator. “Said Sanchan Saxena, VP of Product, Ecosystem.

Coinbase NFT Marketplace is creator friendly

Coinbase ensures an improved marketplace that focuses on the user experience by improving accessibility and also emphasizes an artist-friendly marketplace. Coinbase explains that user satisfaction is the key to selling more NFTs, but the key to creating better and improved tokens is having a marketplace that is easily accessible to creators as well. The exchange claims that in addition to improving the user experience, the exchange also prioritizes the needs of artists and creators.

“Creating an NFT is as simple as touching a few buttons. Anything more complex is an obstacle to creativity. Coinbase NFT will be a peer-to-peer marketplace that stimulates the imagination. With an intuitive design built on a decentralized marketplace, Coinbase NFT puts art and the artist’s experience first, ”said Saxena.

Join our Facebook group and Telegram group Coincu News to chat with more than 10,000 other people and exchange information about the crypto currency market.

Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.