Coinbase NFT launched new functions to attract traders

Coinbase non-functional testing is adding more new functions to its relatively small user base.

Since the launch of the public beta in early May, the NFT market of the Cryptocurrency Exchange has launched a series of enhanced functions. Coinbase NFT has added NFT's "Batch Management" function, "Like" tab, edit list price, insight page and notification center.

It also adds functions such as rarity filter, delay list, "follow" feed, and users can connect up to 10 encrypted wallets to a Coinbase NFT account.

Although the platform still does not charge any fees from Coinbase for a "limited period of time", the traders have not actually realized the transaction.

According to the external data of Dune Analytics, since the launch of Coinbase NFT two months ago, there have been 8202 independent buyers and sellers on its platform. According to the statistics of Dune, there were 20765 transactions at the time of press release, with a total transaction volume of about US $2.9 million, or 1468 ETH.
If these numbers look high, they are not high by comparison. The total trading volume of OpenSea, the leading NFT market, reached US $15.6 million on Thursday alone. This industry-leading platform has about 1.9 million registered users who have done at least one transaction on the website.

In any case, the development of Coinbase NFT seems to continue, although there has been a bigger bear market in the cryptocurrency market, and there has been a wave of layoffs and job cancellations in Coinbase recently, which has led to some people who sneer at future employees to vent their dissatisfaction online.

People have different reactions to the new features released by Coinbase on Twitter. Some people expressed concern about the company's suspected sale of user data, which Coinbase denied, while others believed that the company's launch in the NFT market was "failed".

However, a representative of Coinbase told Decrypt that Coinbase NFT is a "Web3 social market" and should not be viewed only from the indicators on the chain.

At present, Coinbase NFT is focusing on building the first monetization platform of its products. According to the company, the platform will be monetized later.

A spokesman for Coinbase told the declassified website via email: "We are not only concerned about the number of transactions and the volume of transactions." The company did not respond to subsequent requests for the number of users or participation data.

The spokesman said: "There are still many people interacting on this platform and promoting the use of social functions." "We are in the testing stage and will regularly launch many new functions. Our focus is to let the community use these functions and make our market more social."