1.5% of Coinbase Users Join NFT Waitlist in a Day

Adoption Coinbase Ethereum NFT Non-fungible tokens
Author
Author
Jaroslaw Adamowski
Last updated: 
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: AdobeStock/Dennis

With 1m people registering for US crypto exchange Coinbase‘s forthcoming non-fungible tokens (NFTs) platform, this could mean the company recruited a further 1.5% of its existing customer base in just one day.

As reported, expanding into NFTs, Coinbase has launched a waitlist for customers interested in its new NFT peer-to-peer marketplace that will allow them to mint, buy, showcase, and discover such tokens. 

Brian Armstrong, the exchange’s Co-founder and CEO, tweeted that more than 1m potential customers have signed up for Coinbase NFT since its launch on October 13. 

In its shareholder letter for the second quarter of 2021, the exchange said that it had amassed some 68m verified users. The 1m that have registered for the waitlist translate into 1.5% of Coinbase’s existing users.

“Coinbase’s [NFT] waitlist is already larger than OpenSea‘s wallets,” observed US entrepreneur Nate Roth, referring to the leading digital marketplace for crypto collectibles and NFTs.

OpenSea says it has more than 300,000 users and provides access to more than 34m NFTs.

Meanwhile, some industry observers have expressed doubt whether this initial enthusiasm could be easily directed into future sales.

“Waitlist size, like download numbers from the app store or chrome store, is vanity metrics and means very little,” commented Ouriel Ohayon, CEO of crypto wallet company ZenGo. “This is 2021. Only true engagement metrics and customer happiness matter.”

The initial launch of the marketplace will support Ethereum (ETH)-based ERC-721 and ERC-1155 standards with multichain support “planned soon after,” Sanchan Saxena, Vice Product of Product, Ecosystem at Coinbase, said earlier this week. 

“Based on your interests we’ll curate your personal feed. Your profile will showcase all your NFTs in one place, helping you connect with like-minded fans or artists,” Saxena said.

____

Learn more:
Competition is Increasing for OpenSea, With FTX US, Zora, and Coinbase in the Ring
TikTok’s NFTs Run Into Issues As Artists Reportedly Hesitate To Participate

Ethereum’s EIP-1559 Helped Coinbase Save ETH 27 on Daily Fees
At Least 6,000 Coinbase Clients Robbed This Spring, Exchange Reimburses Losses

More Articles

Blockchain News
Samourai Wallet Dismissal Bid Gains Steam After DOJ Policy Pivot, 16-Day Delay
Julia Smith
Julia Smith
2025-04-29 21:53:56
Crypto Regulation News
UK Unveils Draft Crypto Rules to Curb Scams, Eyes Cross-Border Sandbox With US
Hassan Shittu
Hassan Shittu
2025-04-29 21:18:21
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors