August 14, 2022

Coinbase NFT Launches New Features to Engage Users

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Coinbase NFT Launches New Features to Engage Users

Despite the collapse of the cryptocurrency markets, Coinbase intends to develop its non-fungible token (NFT) trading platform and launches new features to attract users.

New features include the ability totime to change prices for digital items, the notification center, and the Liked and Bulk Management tabs have also been added. In addition, rarity filters and the ability to connect up to ten cryptocurrency wallets to one account appeared on the site.

According to Dune Analytics, since launchCoinbase NFT two months ago, only 8,202 users registered on the site. As of July 2, they have made a total of about 21,000 transactions. The total trading volume was 1,468 ETH (about $3 million). For comparison, just last Thursday, trading volume on the OpenSea platform amounted to $15.6 million.

Despite the unimpressive numbers and the upcomingcrypto winter, Coinbase appears to be determined to continue developing the site. Now the exchange is focused on creating a full-fledged resource that can meet the needs of an expanding market, and the company will monetize it later. Coinbase allocates less than 10% of its budget to the development of the site.

“We do not focus solely on quantity andtransaction volumes. There are many people on the platform who use the platform as a social network and we are developing these functions. We are currently in the early stages of beta testing and want to make our platform more focused on social features,” said a Coinbase spokesperson.

Earlier, the exchange was accused of selling its users' data to the US Immigration and Customs Enforcement (ICE). The company vehemently denied these allegations.

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