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Seeking Alpha 2021-10-12 19:19:58

Coinbase Global pushes into NFT marketplace to make minting, trading easier

Diversifying beyond cryptocurrency, Coinbase Global (COIN -3.2%) moves into the non-fungible token (NFT) space by creating a peer-to-peer marketplace that's intended to make "minting, purchasing, showcasing, and discovering NFTs easier than ever," the company said on its blog. "Just as Coinbase (NASDAQ:COIN) helped millions of people access Bitcoin for the first time in an easy and trusted way — we want to do the same for the NFTs," said Sanchan Saxena, vice president of Product, Ecosystem for Coinbase (COIN). NFTs are blockchain-based tokens that represent digital files as unique items. The marketplace will help artists maintain creative control through decentralized contracts and metadata transparency, Saxena wrote. The initial launch will support Ethereum-based ERC-721 and ERC-155 standards with "multichain support planned soon after." The company didn't say when Coinbase (COIN) NFT will start, but said users can join the waitlist for early access to the marketplace. Coinbase, which started as a

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