Coinbase NFT taking a break to develop tools and technologies


  • Coinbase NFT marketplace is discontinuing to evolve in more tools.
  • Since its launch last year, Coinbase NFT has now seen approximately $7.34 million in total transactions.
  • The marketplace generated only $106 in the last 24 hours.

The Coinbase NFT platform is still not working well enough. Coinbase NFT said on Wednesday that it is “pausing” further NFT releases but is not closing its marketplace entirely to concentrate on additional features and tools as per creator requests.

Coinbase feels that, in the foreseeable future, these adjustments will boost the Coinbase NFT team’s capacity to produce a long-lasting service that best serves the market. Their aim for Coinbase NFT remains the same, and they are excited about their future as they continue to evolve.

It’s confusing why Coinbase NFT needs to halt developer releases in order to introduce additional features. It might be due to a personnel shortage since Coinbase, like many other cryptocurrency companies, has managed to lay off people over the past year. Coinbase said last month that it was laying off another 950 employees. The Coinbase NFT team reallocated its efforts to concentrate on the regions with the most impact for its consumers.

Whole crypto Twitter continues to crack jokes, Coinbase NFT has continued to create additional features for its platform in an attempt to entice new members since its inception in the spring of 2022, such as a mass management utility, rarity parameters, and time-delayed listing, in an attempt to attract new customers. Its initiatives have not been productive, with only $106 in overall transactions in the previous 24 hours.

Coinbase NFT has seen around $7.34 million in aggregate amounts exchanged since its inception last year. In comparison, competing exchange OpenSea saw nearly $11.3 million in total volume exchanged in Ethereum NFTs only yesterday.