Coinbase’s NFT Waitlist Reaches 1 Million Subscribers on Day One…What Does That Mean?
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Answer Coinbase’s NFT Waitlist Reaches 1 Million Subscribers on Day One…What Does That Mean?
In a previous article on the Arab Bitcoin, we dealt with an advertisement Coinbase announces its NFT tokens platformCoinbase has opened the possibility of registering in the waiting list by e-mail, which can be found at Link.
A report from “Bloomberg” shows that an informed person said yesterday, Wednesday, that there were more than one million subscribers to the NFT platform waiting for “Coinbase” on the first day of its opening.
This person said he wasn’t sure if some of the signups were duplicates or spam email addresses.
Queen Piece and Mad NFT:
Coinbase unveiled plans to launch its NFT platform on Tuesday, seeking to capitalize on one of the biggest trends in the digital asset space this year.Read:Bitcoin is the 6th best performing currency in 2019
Sanshin Saxena, Coinbase Vice President of Products wrote on Twitter:
We get a lot of signups, and we’re very grateful for all the interest.
We are experiencing crazy loads on our servers and our team is working hard to fix this issue.
We just announced the upcoming launch of Coinbase NFT (https://t.co/U1ymWieRT3). We’ve got a lot to subscribe – so thankful for all of your interest 🙏🙏.
We are experiencing crazy loads on our servers and our team is working hard to fix this issue. check back soon! #Coinbase
– Sanchan S Saxena (sanchans) October 12 2021
Coinbase has joined the ranks of Binance and FTX in delving into NFT and digital holdings, which have boomed in popularity this year.
Daily sales peaked near $268 million in late August, according to Nonfungible, with some NFTs selling for millions of dollars in recent months.
It is worth noting that Coinbase has been preparing for its new platform for some time and is benefiting from the experience of its employees in this field, including Katie Hawn, the general partner of the adventure company Andreessen Horowitz, who has a seat on the board of directors of Coinbase, and she is also a board member. Management in the giant “OpenSea” company in the NFT market, according to her profile on “LinkedIn”.Read:Class action lawsuit filed against MoneyGram for misleading investors using XRP
Coinbase, which warned in August that customer usage slowed at the start of the third quarter, has sought to diversify its revenue as competitors such as Robinhood ramp up their efforts to attract crypto users.
NFT is Coinbase’s “next frontier” and could become a profitable business for the company next year, according to Julie Chariel of Bloomberg Intelligence.
Chariel, chief financial technology analyst, wrote in a Bloomberg report:Read:As consolidation upgrade approaches… Ethereum derivatives trading volume exceeds Bitcoin derivatives
Fees generated by the retail market are likely to be more than their institutional counterpart.
NFT trading at the 3% fee estimate will yield a much higher return per dollar traded, along with lower volatility for Coinbase than a cryptocurrency exchange.
Initially, it seems that Coinbase succeeded in marketing its platform before the launch, and the large number of registrants reveals the extent of interest in non-fungible tokens (NFTs), which gained huge momentum in the second half of this year.
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