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    Coinbase Wallet NFT Compatibility is Finally Here

    By Bryan TeohDecember 15, 20212 Mins Read

    With more than 73 million users around the globe, Coinbase is no stranger in the crypto economy. The company announced on Tuesday that their wallets will be NFT-compatible within the next few days. Users should ensure that they have updated their Coinbase Wallet browser extension. This is part of the company’s vision of making Web3 and crypto more accessible and user-friendly.

    Coinbase Wallet NFT compatibility will improve its interoperability
    Coinbase’ expansion continues as wallets are now NFT-compatible. Credit: Coinbase

    So What’s New with Coinbase Wallet?

    Coinbase Wallet users will now be able to view their NFT collections. As presently constructed, Coinbase only facilitates the purchase of cryptocurrencies and users need to transfer them to a 3rd party wallet such as MetaMask. From there, users can purchase and store their selected NFTs. This new feature allows less movement of assets and an overall more friendly approach for the masses. The NFT feature will be rolled out through the browser extension, which also displays NFTs from other supported networks.

    Coinbase' objective to make web3 more user friendly
    Web3, crypto, and NFTs should be for everyone. Credit: Coinbase

    The Coinbase wallet will also support EIP-3085. This sets the stage for better interoperability within the ecosystem in the future. This Web3 undertaking ultimately includes an NFT marketplace and social aspects where creative ideas and communities can be cultivated. NFT compatibility is a preliminary yet essential step towards this goal.

    It wasn’t long ago that Coinbase announced the launch of their NFT marketplace. Users were definitely excited as the waitlist exceeded 1.4 million registers within the next 24 hours. This figure was eye-opening as it exceeded the total number of users on OpenSea.

    Coinbase Wallet will be NFT-compatible soon
    Do more with less with this new feature. Credit: Coinbase

    As MetaMask holds a first-mover advantage over its competitors, there are several downsides that could give way to other players. For instance, MetaMask has no customer support. Users are also unable to fund their wallets on the platform. Whereas Binance has crypto exchanges, NFT-compatible wallets, and an NFT marketplace. Each platform hosts different collections and attracts different user groups. It will be exciting to see what the future holds as they continue to evolve.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Bryan Teoh

      Bryan is a content writer based in Malaysia. Aside from food and sports, his interests include blockchain, cryptocurrencies and NFTs.

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