Coinbase, a leading crypto asset exchange in the US, announces the suspension of some functions on its NFT (non-fungible token) electronic market, CoinbaseNFT, as part of its business restructuring plan.
As reported by Decrypt, a reliable overseas media outlet, CoinbaseNFT intends to discontinue its popular service “Creator Drop”, which releases new NFT projects. However, the platform intends to continue and concentrate resources on essential functions.
“Creator Drop” serves as the primary market for NFTs. In a statement, CoinbaseNFT’s official Twitter account stated that the company is pausing Creator Drops to focus on other important features and tools that creators need. The company also emphasized that its mission remains unchanged and it is optimistic about the future as it continues to grow.
We recently shared that we are pausing creator Drops on the NFT marketplace to focus on other features and tools that creators have asked for.— Coinbase NFT 🛡️📞 (@Coinbase_NFT) February 1, 2023
To be clear: We are not shutting down the Coinbase NFT marketplace.
CoinbaseNFT was launched in the spring of 2022 and has been constantly releasing new features such as batch management tools, rarity filters, and delayed listings to enhance its offerings to users.
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