Coinbase’s NFT Marketplace Has Almost No Users

The new NFT marketplace of the crypto exchange Coinbase is not yet succeeding in attracting users.

A Dramatic Start for Coinbase NFT

On the first day the marketplace was available, fewer than 150 new users signed up to the platform, data from Dune Analytics shows. The marketplace called ‘Coinbase-NFT’ has a total of only 1,200 users.

Also, only 150 trades took place on the first day, representing a trading volume of approximately $75,000. That’s less than the price of one Bored Ape.

About the NFT Market

NFTs are tokens used to prove ownership of digital items, such as art, game items or other items. The value of the NFT market has exploded over the past year and is now well above $20 billion.

At the moment, OpenSea is by far the largest NFT trading platform in the world. The marketplace generates billions of dollars in trading volume every month. For example, OpenSea saw 177.2 million worth of Ethereum traded yesterday. Since its launch, 1.65 million users have already created an account on the OpenSea website.

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