A new social marketplace is set to be launched by Coinbase, which is using blockchain technology to power its NFT platform. The platform will allow users to browse NFTs for sale and recommend those that fit their preferences. The marketplace will also have features to allow users to buy NFTs with a Coinbase account or a credit card. Despite the new features, critics say that the new platform is just another speculative bubble.
The first rumors of this marketplace have been true for the last month. OpenSea, which is the world's largest crypto exchange, has been having a tough time lately. The number of NFT sales on the exchange has decreased by nearly 67 percent in the past month. This news comes on the heels of a 19 percent drop in trading volume over the past 24 hours. However, Coinbase's nft launch has come at a good time. The company has a total volume of $3.2 billion every 24 hours, and the platform has a community of 50 million users.
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