Coinbase Wallet to Bring NFTs to Your Browser Extension
This is the first major Ethereum wallet to support NFTs in a browser extension, according to the company
Blockworks exclusive art by axel rangel
key takeaways
- COIN is trading roughly flat on Tuesday at 1:00 pm ET, for $251 per share on the Nasdaq
- In October, Coinbase announced a forthcoming NFT marketplace
Coinbase Wallet will soon support non-fungible token collections (NFTs) in its browser extension, the company announced on Tuesday.
The new feature means that NFTs — which were previously only available in its mobile app — will soon be viewable in users’ browsers, along with the ability to monitor floor prices, i.e. a collection’s lowest priced item.
Coinbase Wallet is a standalone product, which users have to download from a brower’s web store, offered separately from Coinbase’s cryptocurrency exchange and investment platform.
“Our goal is to bring greater accessibility to the Web3 experience for all our users,” Sid Coelho-Prabhu, Coinbase Wallet product lead, said in a statement.
The move comes as the number of daily Coinbase Wallet users have increased by 300% in the past 60 days, the company said in its marketing materials. According to Coelho-Prabhu, as the popularity of the digital asset class rises, the move by Coinbase is an attempt to “make the world of crypto more user-friendly and accessible.”
The news follows the unveiling of Coinbase’s plans for an NFT marketplace, dubbed Coinbase NFT, in October. The product will allow users to purchase, mint, showcase and discover the blockchain-based digital collectibles on a peer-to-peer marketplace.
Assuming the NFT platform launches by the end of the year, “it can be 7% accretive to [Coinbase’s] 2023 earnings,” Owen Lau, an analyst at Oppenheimer & Co, told Fortune in November.
“Coinbase NFT will help creators, collectors, and fans build community, which aligns with Coinbase’s mission of increasing economic freedom and bringing crypto to more people, in new, exciting and accessible ways,” a spokesperson for the publicly-traded company previously told Blockworks.
Coinbase Global Inc. (COIN) is trading roughly level on Tuesday at 1:00 pm ET, for $251 per share.
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