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Monday, March 27, 2023

Coinbase Wallet Has Come Out In Support Of NFTs

Coinbase Wallet, the crypto exchange from the United States, had decided to make new upgrades to its wallet, which would now support NFTs. This move could exponentially lead to further adoption of its browser extension. On Tuesday, the company announced that the wallet will soon be able to provide support for NFTs, thereby providing users with the ability to check out their collections and thereby access the leading NFT marketplaces in the area like OpenSea.

Interestingly, the company never did specify the exact date for the rollout but has claimed that users would need to have the latest version of the extension for this browser installed in order to access the features provided. 

Coinbase Wallet Could Revolutionize NFTs

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It is pretty understandable that the Coinbase Wallet is looking out for itself in 2022, with its plans of expanding its support for other NFTs, as well as making its native decentralized exchange trading feature a lot more accessible and affordable. The Wallet for the company already has an integration feature for DEX which would allow the users to convert their holdings through multiple decentralized exchanges.

As reported by Cointelegraph, Coinbase recently brought forth its new standalone browser extension for the wallet that would allow users to access a far wider array of crypto assets on the DEXs. 

The Coinbase Wallet is definitely going to be quite popular since the growth of digital collectibles has been one of the most defining moments of 2021- even if the mania for NFT has gone down in the last couple of months. According to Cointelegraph Consulting, it has been estimated that the total sales of NFT could top the sum of $17.7 billion this year. As far as data from NFT shows, the weekly sales did end up peaking in late August at around $1.6 billion. 

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With Coinbase Wallet turning into the world’s second-largest cryptocurrency exchange behind Binance, it is assumed that people would flock towards the goldmine of opportunity.

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