Free NFT Available on Zora to Celebrate Coinbase’s Base Network Launch

Coinbase, the NFT marketplace, makes headlines this week with its latest layer-2 scaling network, Base. In order to celebrate the launch, the team dropped a free open edition NFT. The new collectible is only available via Zora, a new NFT marketplace, and you can mint it too until this Sunday. Now, the community has one question in mind: is the new L2 solution actually good?

image of Coinbase logo on city skyscrapers

Coinbase launched an open edition NFT along with its new Ethereum Layer 2 solution, Base.

Why Did Coinbase Drop a New NFT?

One of the leading crypto exchange platforms, Coinbase, teamed up with the Optimism network to create a new Ethereum Layer 2 solution. The new feature titled Base aims to help users develop decentralized apps faster and cheaper than its alternatives.

The exclusive launch came with a new NFT by Coinbase available for free mint until next Sunday. The collectible is an open-edition digital asset, which means that an unlimited number of users can mint and use it as they please.

The NFT had been minted more than 24,000 times in less than 24 hours. Contrary to these successful figures, many NFT community members aren’t pleased with Base – but why?

screenshot from a Coinbase NFT announcement for their new L2 scaling solution Base

Coinbase revealed the new Ethereum L2 solution via Twitter this week. Credit: Twitter

How Did the NFT Community Respond?

To begin with, the “Base, Introduced” free NFT dropped via Zora – a popular NFT marketplace. However, Coinbase already has its own dedicated marketplace, and some users claim it would’ve been easier to mint the NFT there.

Then, there’s the issue of Base itself as an L2 solution. For example, many users complained that the new concept doesn’t offer enough decentralization – an essential aspect of the Web3 world.

Nevertheless, many users also see a future use for the Base solution, so we can only wait and see how it evolves.

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