NFT
www.coindesk.com
01 February 2023 20:17, UTC
Studying time: ~2 m
Within the wake of a rumored shutdown, Coinbase NFT, the non-fungible token (NFT) platform of crypto trade Coinbase, mentioned Wednesday that it’s pausing “creator Drops” to focus its efforts on different aspects of its market.
“We lately shared that we’re pausing creator Drops on the NFT market to give attention to different options and instruments that creators have requested for,” Coinbase NFT confirmed in a tweet. “To be clear: We aren’t shutting down the Coinbase NFT market.”
On Wednesday afternoon, Coinbase NFT accomplice Jessica Yatrofsky mentioned her upcoming NFT assortment would now not drop on Coinbase NFT, saying she had been “privately knowledgeable that [the] market was shutting down.”
Coinbase NFT shortly responded to the rumors, stating that they’re certainly pausing drops to give attention to enhancements, however they aren’t shuttering the NFT market.
Coinbase’s NFT drops characteristic allowed creators to launch collections straight on {the marketplace}, relatively than serving as a secondary market equivalent to main NFT platform OpenSea. In response to information from Dune Analytics, Coinbase NFT’s all-time buying and selling quantity is 4,454 ETH, almost $7 million. Within the month of January alone, OpenSea raked in a 306,645 ETH buying and selling quantity, about $483 million.
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