Aliens TLDR

The cryptocurrency exchange’s NFT marketplace has rolled out a number of enhancements since its public beta launch at the beginning of May. Coinbase NFT has added an NFT “Bulk Manage” feature, a “Liked” tab, the ability to edit list prices, an insights page, and a notification hub.

But traders haven’t substantially materialized—despite the platform still holding off any Coinbase fees “for a limited time.” According to external data from Dune Analytics , Coinbase NFT has seen about 8,202 unique buyers and sellers on its platform since it launched two months ago.

The response to Coinbase’s new features thread on Twitter was mixed, with some expressing concerns about the company allegedly selling user data , which Coinbase has denied , while others argued the company “ failed ” with its NFT marketplace launch.

Our focus is on the community using those features to make our marketplace feel more social.” On its first quarter earnings call in May, Coinbase CEO Brian Armstrong said he was actually “really pleased” with Coinbase NFT’s success thus far and wanted to add support for more blockchains in the future.

But how much is Coinbase investing in its NFT marketplace?

“We allocate roughly 10% of our budget to longer-term bets such as the NFT marketplace,” Choi said on the earnings call.