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Will NFTs on Coinbase Boost Adoption? ($COIN)

October 13, 2021

Will NFTs on Coinbase Boost Adoption? ($COIN)

Coinbase ($COIN), the largest U.S-based cryptocurrency exchange, made headlines yesterday after announcing plans to launch an NFT marketplace on their platform.
Consumer Interest in ‘Non-Fungible Tokens’ has already shown remarkable growth in 2021, likely influencing COIN’s decision to enter into the space -- Underlying Mentions are up +10% in the past month and +350% QoQ (7d MA).

Coinbase boasts an impressive number of active users (8.8 million in 21Q2), and the arrival of its NFT marketplace could potentially spawn a fresh wave of hype (attention and liquidity) for Ethereum-based NFTs.

The news has already prompted much excitement on Twitter, largely from users with wacky .jpg profile pictures:

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