Nonfungible tokens took the crypto market by storm this year, with
sales expected to reach almost $18 billion by the end of 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 its 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.
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.
source link : https://cointelegraph.com/news/coinbase-wallet-rolls-out-support-for-nfts
