Coinbase has launched the beta version of its NFT marketplace

The platform's interface is comparable to Meta's Instagram, which will soon include NFT trading and display.

Coinbase sees its new marketplace as more than just "buying and selling". Instead, it is a socially active community centered on producers and collectors.

To further this goal, the major U.S. exchange has created an interface that allows users to follow other profiles and start conversations by commenting directly on NFTs. Also, as the conversation unfolds, users can vote for and against the comments, a feature similar to what social media platforms offer users.

What happens next?

While the marketplace now only offers NFT collections Coinbase produces on the ethereum blockchain, indicating that in the future customers will be able to purchase digital collectibles from other blockchains. People will also be able to use their Coinbase accounts or credit cards to purchase NFTs, which will contribute to the mainstream adoption of such assets.

The company also said it intends to delve further into the creative economy by promising to pay creator royalties for the ability to be on the market. In addition, the crypto giant promises to provide additional decentralized solutions to transform the platform into a web 3 decentralized arena.