According to a source, Coinbase’s NFT Waitlist saw more over one million signups on day one.
Coinbase Global Inc. has recently announced the creation of a non-fungible token (NFT) marketplace. On the first day, a large number of people were placed on the queue for the renowned bitcoin exchange.
More than one million people have signed up for the Coinbase NFT waitlist.
Bloomberg reported on Thursday, Oct. 14 that a person familiar with Coinbase stated that over one million people signed up for the NFT queue on the first day.
The unnamed source added it was still unknown why the exchange achieved that figure during early access at the time of writing. According to the source, there is still no explanation as to whether the problem was caused solely by spam or duplicate signups.
The establishment of Coinbase’s own NFT marketplace is now one of the hottest developments in blockchain technology.
In response to the large number of single-day signups, Sanchan Saxena, the organization’s Vice President of Product, stated that they are working hard to resolve the issue on their servers caused by the large number of signups.
Coinbase isn’t the only corporation to experiment with NFTs this year. FTX and Twitter have also entered the digital asset market.
The Nonfungible tracker said that the platform received $268 million each day in late August. This occurred during the rise in popularity of NFTs.
Coinbase looked for ways to compete with other platforms like Robinhood Markets Inc. in the same month. Customers’ utilization rates were reportedly restricted in the third quarter of the year.
Coinbase plans to improve its service to all customers in order to attract more investors and traders to the platform, especially given the growing popularity of digital tokens.
NFTs, according to Bloomberg Intelligence’s Julie Chariell, will be the crypto exchange’s “next frontier” in the coming year. This could help the company prosper in the face of competition.
“At our 3% fee estimate, NFT trading would generate substantially more revenue per trade dollar to Coinbase operations, as well as less volatility than the bitcoin trading platform.” According to a leading fintech analyst.
Alternatives to Coinbase to Consider
Benzinga, a well-known cryptocurrency website, has a list of Coinbase alternatives. The following was published earlier this month in the publication: eToroRobinhood VoyageriTrustCapitalCrypto.com CoinmamaGeminiWebull People should be informed of supported currencies in a certain platform, as well as know how to use them, according to the publication. It’s also a good idea to check if the platform in question is. News from Brinkwire in a nutshell.