Despite the collapse of the cryptocurrency markets, Coinbase intends to develop its non-fungible token (NFT) trading platform and launches new features to attract users.
New features include the ability to change prices for digital items in real time, a notification center, and the addition of Liked and Bulk Management tabs. In addition, rarity filters and the ability to connect up to ten cryptocurrency wallets to one account appeared on the site.
Since the launch of Coinbase NFT two months ago, only 8,202 users have registered on the site, according to Dune Analytics. As of July 2, they have made a total of about 21,000 transactions. The total trading volume was 1,468 ETH (about $3 million). For comparison, just last Thursday, trading volume on the OpenSea platform amounted to $15.6 million.
Despite the unimpressive numbers and the upcoming crypto winter, Coinbase, apparently, intends to continue to develop the site. Now the exchange is focused on creating a full-fledged resource that can meet the needs of an expanding market, and the company will monetize it later. Coinbase allocates less than 10% of its budget to the development of the site.
“We do not focus solely on the number and volume of transactions. There are many people on the platform who use the platform as a social network and we are developing these functions. We are currently in the early stages of beta testing and want to make our site more focused on social features.” declared Coinbase representative.
Earlier, the exchange was accused of selling its users’ data to the US Immigration and Customs Enforcement (ICE). The company vehemently denied these allegations.
Source: Bits
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