The big NFT launch on Coinbase!

Coin base (NASDAQ: TCP) continues to work to become a force to be reckoned with in the world of cryptocurrencies and digital assets in general. But not only that: Management also puts together an ecosystem character that must also function on the basis of value-creating services and other services. All in all, a smart approach.

With an investment in the development of an NFT platform, the management of Coinbase wants to continue on this path. New headlines show: Now the big launch has finally taken place. After a little that has already taken place.

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Coinbase: The big NFT launch!

Like the American portal Yahoo Finance now reported, Coinbase has now opened its own NFT platform to the public. Before then, there was a kind of public beta test with a few people who were only invited in advance and who could initially let the steam out on the trading platform. But the big launch has taken place these days, which allows anyone to trade non-fungible tokens via the familiar name in the crypto space.

As Yahoo Finance goes on to say that the step was taken faster than expected. However, a spokesman for the company assured that the platform is now prepared to also show higher volumes. Is a great success for Coinbase with this new opportunity now for sure?

dels, dels. It is also positive that management is looking for new, established products and cryptocurrencies. However, some analysts recently complained that management entered this market too late. The NFT hype has now leveled off a bit. In addition, $ 300 million has been poured into the development of this first-rate trading venue. Nevertheless, foolish investors can stick to a provisional preliminary conclusion:

Management is working on the ecosystem!

Namely, that the management of Coinbase is working on its own ecosystem and is apparently convinced that the NFTs are here to stay. Therefore, investments were made to provide the stakeholders, investors and speculators with the tools and trading space in this market. Probably also from a perspective of not losing more market share to competitors.

Whether this particular investment pays off, of course, depends on the success of NFTs in general. But Coinbase is still in the process of consistently expanding and expanding its own ecosystem. This is a positive qualitative feature of an investment dissertation to follow the trends of the crypto market and not lose its appeal. The launch of the platform therefore has a short-term potential. Basically, however, it is more important to me that management has a consistent overview of developments in its own market.

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Vincent owns shares in Coinbase The Motley Fool owns shares in and recommends Coinbase.

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