Coinbase Wallet rolls out support for NFTs

Published at: Dec. 14, 2021

United States crypto exchange Coinbase has made new upgrades to its self-custody wallet, including adding support for nonfungible tokens, or NFTs, in a move that could drive further adoption of the browser extension. 

The company announced Tuesday that Coinbase Wallet will soon be able to support NFTs, giving users the ability to view their collections and access leading NFT marketplaces like OpenSea. Coinbase didn’t specify an exact date for the rollout but said users will need to have the latest version of the browser extension installed to access the features.

Looking ahead into 2022, Coinbase said it plans to expand its support for NFTs, as well as make its native decentralized exchange trading feature more accessible and affordable. Coinbase Wallet has a DEX integration feature that allows users to convert their holdings through various decentralized exchanges. As Cointelegraph reported, Coinbase recently unveiled a new standalone browser extension for its wallet that allows users to access a wider array of crypto assets on the leading DEXs.

Related: Got crypto? Here are 3 software wallets for storage, staking and swapping

While NFT mania has cooled significantly in recent months, the growth of digital collectibles is one of the most defining trends of 2021. Cointelegraph Consulting estimates that total NFT sales are expected to top $17.7 billion this year. Data from NonFungible shows that weekly sales peaked in late August at more than $1.6 billion.

Ranked by total volume, Coinbase is now the world’s second-largest cryptocurrency exchange, according to CoinMarketCap. Binance, the world’s largest crypto exchange, already supports an NFT marketplace and in October announced support for multi-chain NFT deposits and withdrawals.

Tags
Business
Wallet
Coinbase
Related Posts
Facebook pilots Novi crypto wallet with Coinbase, Paxos
Social media giant Facebook has tapped Coinbase and Paxos for its forthcoming Novi digital wallet project, which kicked off its pilot testing phase in the United States and Guatemala on Tuesday. Beginning Tuesday, a small cohort of users in both countries will be able to download the Novi digital wallet app on iPhone or Android devices and add money to their accounts with a debit card. From there, they will be able to send and receive money using Pax Dollar (USDP), a dollar-backed stablecoin issued by blockchain trust company Paxos. Facebook selected USDP in its pilot program because of its …
United States / Oct. 19, 2021
Coinbase launches standalone browser extension for Coinbase Wallet
United States cryptocurrency exchange Coinbase has rolled out a new standalone browser extension for its Coinbase Wallet, giving users the ability to more easily access thousands of digital assets on decentralized exchanges, commonly known as DEXs. Beginning Monday, Coinbase Wallet will be available as a standalone browser extension, which means new customers can download the tool for free on Chrome. New users also have the option of importing an existing Ethereum-based wallet, such as MetaMask, the company said. Existing customers who have been using the Coinbase Wallet through WalletLink will also have the opportunity to use the new feature by …
Business / Nov. 8, 2021
Coinbase acquires crypto wallet provider BRD's team as utility token price surges 500%
Crypto wallet provider BRD said “nothing will change” for users following an acquisition from major U.S. crypto exchange Coinbase. In a Nov. 24 letter to BRD users, CEO Adam Traidman and co-founder Aaron Voisine said some of the company’s team members would be moving to Coinbase to continue working on crypto wallets. Coinbase Wallet said on Twitter that the addition of the BRD team would “help accelerate web3 adoption” as well as provide “deep expertise in self-custody.” “Nothing will change in the BRD wallet app and as always, your funds are safe and secure,” said the BRD execs. “In the …
Business / Nov. 24, 2021
Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan
Citing compliance with local jurisdictions, crypto exchange Coinbase announced to soon collect additional information from users based in Canada, Singapore and Japan. Effective from April 1, Coinbase users from Canada, Singapore and Japan will be required to provide additional information while sending cryptocurrencies to a different (non-Coinbase) platform. However, while Singaporean and Japanese investors will be required to share additional information about the recipient for every single off-platform transaction, Canadians sending less than $801 (1,000 CAD) will be exempted from this requirement. As shown in the above screenshot, Canadian users will need to share the full name and residential address …
Bitcoin / March 26, 2022
Coinbase claims Apple blocked wallet app release over gas fees
The self-custody crypto wallet from Coinbase said users can no longer send nonfungible tokens, or NFTs, due to interference from Apple. In a Dec. 1 Twitter thread, Coinbase Wallet said the tech company with a more than $2 trillion market capitalization had blocked the latest release of its app in an effort to “collect 30% of the gas fee” through in-app purchases. The platform claimed Apple wanted Coinbase Wallet to disable NFT transactions, introducing “new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem.” “For anyone who understands how …
Nft / Dec. 1, 2022