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Coinbase NFT Marketplace:Diamond Hands

You’ve got Opensea, Looks, and now Coinbase competing as the top dog in the NFT Marketplace space.

There are opportunities to buy on Opensea and resell on Looks and profit, it’s called arbitrage and it’s one of the easiest ways to make money flipping NFTs.

Regardless of the arb opportunities, more NFT marketplaces means more volume, and more ETH you can make by participating in this space.

To get you prepped on NFTs, Coinbase’s NFT Marketplace and everything you need to know to buy digital Art and hodl or flip it, keep reading our comprehensive guide to Coinbase NFT Marketplace.

Why is everyone talking about NFTs?

Technology is growing rapidly, and advanced applications are taking place in the industry every day. Non-fungible tokens (NFTs) have swiftly emerged as one of the most exciting crypto phenomena. NFTs are digital tokens that reflect ownership of something fundamentally different and precious, such as artwork, music, a book, a collectible, an in-game item, or real estate.

In addition, unlike traditional cryptocurrencies, NFTs cannot be acquired on controlled or decentralized cryptocurrency exchanges. They are instead posted and traded on internet marketplaces designed specifically for NFTs.

What is an NFT Marketplace?

An NFT Marketplace is a digital platform made especially for NFTs. Where you can store, display, trade, and, in certain situations, mint NFTs (created), these marketplaces are to non-financial transactions what Amazon or eBay are to products. This marketplace functions similarly to an e-commerce platform, such as Amazon or eBay, in that different items are offered by sellers, and consumers can purchase them.

An NFT marketplace is your entry point into acquiring and selling these digital goods, ranging from music to art to entire virtual worlds. Consider NFT markets to be the Amazon of the digital world.

Importance of an NFT Marketplace?

Following are the important aspects of NFT Marketplaces:

Infinite Expansion

The NFT market is an extensive digital pool with significant transactions taking place on a regular basis. They may use this marketplace to purchase or sell anything they wish. It is the future of the virtual market.


Because NFT marketplaces are virtual, they have no physical existence. As a result, they are almost untraceable. A person must have digital money in order to do any transaction on this market. And a crypto wallet is a place where a person acquires and saves their digital money. NFTs expanding soon will inevitably make crypto rise to new heights.

Great Compatibility

There are several digital outlets available nowadays. People must select a crypto wallet compatible with blockchain network technology. Multiple platforms support various crypto wallets. To buy or sell any virtual asset on an Ethereum-based platform, one must first utilize a suitable crypto wallet, such as MetaMask, and then use the NFT marketplace.

Easy to use

The NFT marketplace operates in a basic manner. By following the methods outlined, one may quickly learn the operating mechanism of the NFT marketplace and find their way into the market.

Amazing Usability

A cryptocurrency wallet is a place where cryptocurrencies may be stored. As a result, numerous currencies must be present in the wallet in order to conduct transactions here. The crypto wallet must be pre-funded before purchasing, listing, or minting any NFT. To make any transaction, one must first purchase some cryptocurrency supported by the NFT marketplaces. For example, to conduct a transaction on the Ethereum-based marketplace, a person must first acquire some Ethereum kept in an Ethereum-based crypto wallet.

How does NFT Marketplace Work?

Here are the steps that will help you know the working of NFT Marketplaces:

  • Create a new account.
  • Link crypto wallet with the new account.
  • You can create new NFTs on the marketplace, and it will configure for that marketplace.
  • NFT will be available for selling. People can bid on that NFT, and it will be sold.
  • The marketplace will manage the transaction using a crypto wallet.

At the backend, the marketplace generates a blockchain-based contract for each listed NFT. The tokens are added to the unique data form known as metadata, from which the NFT’s unique parameters are derived.

In every NFT marketplace, a specific transaction protocol known as smart contracts is utilized to govern, monitor, and authorize transactions between the buyer and seller.

Such smart contracts feature the unique properties associated with NFTs, ensuring that the owner of any given NFT is the only one in the whole Universe!

What are the top NFT Marketplaces?

NFT markets have various characteristics and kinds, distinguishing them from eCommerce marketplaces. NFTs, or digital assets, may be saved, sold, and exhibited to a vast audience, and a distinctive economic model is emerging.

NFT markets are spawning the NFT Business Model, in which unique non-fungible tokens connected to art, video, audio, and other sorts are purchased and sold.

Here are the top NFT Marketplaces you can visit and trust if you are interested in NFTs:

  • OpenSea is a game-changing decentralized marketplace for buying and selling non-fungible tokens (NFTs). It is the market leader in the sale of NFTs. OpenSea’s platform hosts a wide range of digital materials, and it’s completely free to sign up and peruse the broad offers. It also helps artists and makers and includes a simple approach for creating your own NFT (known as “minting”).

Because the marketplace accepts over 150 different payment tokens, the platform’s name is suitable. OpenSea is an amazing place to start if you’re new to the NFT realm.

  • LooksRare Although OpenSea presently leads the NFT industry, a platform called LooksRare has acquired enormous traction on social media platforms and is positioned itself to be a formidable competitor with appealing user features and a daily volume topping $394 million.

Why OpenSea is the best NFT marketplace?

OpenSea is a great platform for NFTs. OpenSea has covered the majority of the global NFT market. The majority of new NFT developers and purchasers prefer to trade on OpenSea. In addition, the NFT platform provides a one-of-a-kind minting procedure. You can advertise your NFTs on the marketplace for free, and they will not “mint” until the first transaction is completed. This might save money for artists because they would not have to pay any fees until their work is sold.

OpenSea, like most NFT platforms, pays creators royalties. In other words, you profit when your NFTs resell on the secondary market; if someone who acquires an NFT decides to resell it, you profit. OpenSea is now offering up to a 10% discount.

Advantages of using OpenSea

  • There are no gas fees for NFT developers until customers purchase the product.
  • A wide selection of NFT memorabilia and goods
  • Hundreds of payment alternatives are available (OpenSea accepts cryptocurrencies)
  • Buyers can resell their NFTs, and the original NFT producers can earn up to 10% in royalties.

Why Looks Rare is the best NFT Marketplace?

LooksRare is based on the Ethereum blockchain and allows users to trade Ethereum NFTs accessible on OpenSea. On all NFT sales, except private purchases, the platform levies a 2% sales fee (in WETH).

Following are the key features that make LooksRare different from all the other NFT Marketplaces and prove why it is on the list of top NFT marketplaces.

Vampire Attack Airdrop

“Vampire attack” is a frequent crypto phrase that describes how a project seeks to grab the user base of a comparable service by giving bigger incentives. To entice users to its platform, LooksRare launched a vampire attack on OpenSea. The price of a LOOKS token has risen to approximately $7 in only ten days due to airdrops made by the LooksRare platform.


The LooksRare community has created an incentive system to entice users to use its site for anything from staking to trade. Users of the network are rewarded with WETH and LOOKS tokens at the same time, with staking incentives surpassing 700 percent APR.

Instant payments

When a transaction is made, royalties are paid to the creators immediately, avoiding any wait in the settlement.

Claim Looks Token

Users must first link their wallets to LooksRare to see if they are eligible to claim LOOKS. Eligible users will thereafter get an invitation to list an NFT. After listing their ERC-721 or ERC-1155 NFT, the user may claim LOOKS by clicking on the platform’s official web page banner.

What is a Coinbase NFT Marketplace?

Coinbase NFT is a one-to-one marketplace that will make it easier than ever to mint, purchase, showcase, and find NFTs. It aims to accomplish the same for NFTs that Coinbase did for Bitcoin by making it simple and trustworthy for millions of people to get their hands on it for the first time.

Coinbase’s NFT Marketplace aims to make NFTs more accessible to the general public. Users may already store NFTs on the cryptocurrency exchange’s external Coinbase wallet. However, its new NFT marketplace offering will make it easier than ever for people to participate.

Why will Coinbase NFT be the best NFT Marketplace?

Like other Marketplaces, Coinbase NFT can be a top NFT Marketplace in the future due to its previous users and popularity. Coinbase has 56 million verified users, which will definitely become an asset for them when they launch an NFT Marketplace. Coinbase has strong user support as 6.1 million Coinbase users make at least one transaction per month. Coinbase generated $1.28 billion in revenue in 2020 and, in the first three months of 2021 alone, has already made $1.8 billion.

They are making NFTs more accessible by creating user-friendly interfaces that hide the complexity. Adding social tools that open up new pathways for dialogue and discovery is going to massively enhance the creative community, which is a win for both artists and fans.

How can I join the Waitlist for Coinbase NFT?

Following are the four steps you can do to join the waitlist for Coinbase NFT:

  • To begin, go to the Coinbase NFT web page and join up for the waitlist.
  • Coinbase will begin removing people from the waitlist in the order in which they signed up. This implies that the sooner you apply to join, the sooner you will be able to use the platform.
  • Referrals are another option to move up the waitlist. Users can recommend the platform to others, who can then utilize a unique code that leads back to the recommending user. The more individuals one refers, the higher they can rise on the list.
  • From then, it’s a waiting game as Coinbase gradually allows customers to access the new platform.

What projects will Coinbase NFT launch with?

Adidas has undertaken a number of collaborations with the NFT sector in recent months, notably their connection with BAYC. In fact, the shoe firm paid $160,000 on an NFT. The corporation now intends to issue a huge number of NFTs. As a result of its recent engagement with Coinbase NFT, we may see that happening soon after the marketplace’s launch.

Pixel Vault has also been included in the company’s roster of partners. The IP industry contributes to the value of NFTs. In addition, the agency has its own DAO. Not only had that, but the business already launched their NFT effort – Punks Comics. More importantly, the collection has a floor price of 3.33 ETH and a volume transacted of over 42.5K ETH.


NFTs have created a huge wave and can be more successful than cryptocurrency. If NFTs are important, NFT Marketplaces will definitely carry a lot of value. Many other marketplaces like OpenSea and LooksRare are ruling the NFT Market, but Coinbase NFT Marketplace is all set to break the records as soon as it launches. If you are interested in NFTs and looking for a marketplace, you’ll get a good idea of all the things from the information mentioned above.

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