1.5% of Coinbase users join the NFT waitlist in one day

Source: AdobeStock / Dennis

With 1 million people signing up for the US crypto exchange Coinbasethe upcoming non-fungible token (NFT) platform, it could mean the company recruited an additional 1.5% of its existing customer base in a single day.

As reported, by expanding to NFTs, Coinbase has launched a waiting list for customers interested in its new peer-to-peer NFT marketplace that will allow them to mint, buy, showcase, and discover such tokens.

Brian Armstrong, co-founder and CEO of the exchange, tweeted that over a million potential customers have signed up for Coinbase NFT since its launch on October 13.

In its letter to shareholders for the second quarter of 2021, the stock market noted that it had amassed some 68 million verified users. The million people put on the waiting list translates to 1.5% of existing Coinbase users.

“Coinbase’s [NFT] the waiting list is already longer than OpenSeathe portfolios of “, observed US entrepreneur Nate Roth, referencing the leading digital marketplace for crypto collectibles and NFTs.

OpenSea said it has more than 300,000 users and provides access to more than 34 million NFTs.

Meanwhile, some industry watchers have expressed doubts whether this initial enthusiasm could be easily directed to future sales.

“The size of the waiting list, like the App Store or Chrome Store download numbers, is a vanity metric and means very little.” commented Ouriel Ohayon, CEO of the crypto holding company ZenGo. “We are in 2021. Only real indicators of engagement and customer happiness matter.”

Initial marketplace launch will support Ethereum-based (ETH) -based ERC-721 and ERC-1155 standards with multichannel support “expected shortly thereafter”, Sanchan Saxena, Vice Product of Product, Ecosystem at Coinbase, noted earlier this week.

“Depending on your interests, we will organize your personal flow. Your profile will showcase all of your NFTs in one place, helping you connect with like-minded fans or artists, ”Saxena said.


Learn more:
– Competition increases for OpenSea, with FTX US, Zora and Coinbase in the ring
– TikTok NFTs are having trouble because artists are reluctant to participate

– Ethereum’s EIP-1559 helped Coinbase save 27 ETH on daily fees
– At least 6,000 Coinbase customers stolen this spring, Exchange reimburses losses

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