Coinbase is getting into NFTs.
The cryptocurrency exchange said Tuesday it plans to launch a marketplace that lets users mint, collect and trade NFTs, or non-fungible tokens. Users can sign up to a waitlist for early access to the feature, the company said.
NFTs are one-of-a-kind digital assets designed to represent ownership of online items like rare art or collectible trading cards. They aren’t fungible, meaning you can’t exchange one NFT for another like you could with bitcoin and other cryptocurrencies.
Sales of such tokens have boomed this year. The NFT market topped $10 billion in transaction volume in the third quarter of 2021, according to DappRadar, a company that tracks data on crypto-based applications…read more.