Almost 1.1M people have already signed up for Coinbase NFT waitlist

More than 1 million sign-ups have already been made for Coinbase’s Nonfuncible Token (NFT) platform since Wedlist went live on Tuesday.

Coinbase Open Announcing its upcoming NFT platform on the waiting list via a blog post, which is set to launch later this year. The platform, called “Coinbase NFT”, will initially support Ethereum-based ERC-721 and ERC-1155 token standards, with plans to expand support to other blockchains in the future.

At the time of writing, about 1.1 million people are waiting for initial access to the NFT platform. Sanchan Saxena, vice president of products at Coinbase, tweeted that the “insane” amount of traffic for the waitlist had temporarily disrupted the site.

Thank you all for your patience – for the past few hours, we have scaled and scaled things to be able to sign up in the NFT Marketplace.

See you https://t.co/ysu6Eku84b! https://t.co/kOHbZaPr8P

– Sanchan S Saxena (@sanchans) October 13, 2021

Coinbase’s user base, if anything, is about 68 million Verification According to Q21 2021 users and 8.8 million monthly active users – the NFT platform could soon offer some serious competition to giants like OpenSea. According to Information From DappRadar, OpenSea has a rolling 30-day average of 260,000 active users who handled 2.49 million transactions together in the last month.

Coinbase’s nft waiting list is already larger than OpenSea’s wallet.

Probably something.

– NATΞ R ◎ TH (athanNathanCRoth) October 13, 2021

According to the fine print, the Coinbase NFT platform will initially be available to U.S. customers over the age of 18 before it rolls out in the international market in the future.

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Coinbase’s sinking competitive crypto exchanges in the NFT sector come after both FTX and Binance launched their own NFT marketplaces. Benson NFT opened its doors in June, with the platform aiming to provide lower transaction costs, while FTX and FTX.US launched NFT platforms with limited functionality last month.

Cointelegraph reported earlier this week that FTX.US’s NFT marketplace has increased support for the Solana blockchain.

Calling all NFT artists! Show us what you found in the answers and we’ll retweet some of our favorites. # Portfolio Day

– Coinbase NFT (oinCoinbase_NFT) October 12, 2021