{"id":8736,"date":"2022-02-25T02:53:44","date_gmt":"2022-02-25T02:53:44","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/coinbase-gives-preview-of-its-nft-platform-reddit-tests-nft-profile-pic-feature\/"},"modified":"2022-02-25T02:53:46","modified_gmt":"2022-02-25T02:53:46","slug":"coinbase-gives-preview-of-its-nft-platform-reddit-tests-nft-profile-pic-feature","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/coinbase-gives-preview-of-its-nft-platform-reddit-tests-nft-profile-pic-feature\/","title":{"rendered":"Coinbase Gives Preview Of Its NFT Platform, Reddit Tests NFT Profile Pic Feature"},"content":{"rendered":"
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Source: Sanchan S. Saxena \/ Twitter<\/figcaption><\/figure>\n

\u00a0<\/p>\n

In anticipation of the official launch of their non-fungible token (NFT) platform, major crypto exchange Coinbase<\/strong> has shared a preview of the forthcoming product.<\/p>\n

In a recent series of tweets<\/a>, Sanchan S. Saxena, Vice President for Products at Coinbase, said his intention was to demonstrate how \u201csuper easy\u201d it will be for potential users to buy NFTs on the platform with the use of a self-custody wallet of choice, including CB Wallet<\/strong> and MetaMask<\/strong>, among others.<\/p>\n

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\u201cAs mentioned earlier, we are building an open marketplace and you will be able to buy an NFT using any self-custody wallet of choice OR using your CB account and custody it with CB. You can buy an NFT that was minted on any platform, right on CB NFT,\u201d Saxena said.<\/p>\n<\/blockquote>\n

According to Saxena, Coinbase customers will be guided during their NFT purchase through a step-by-step buying process, with “clear information” on what to do available at each step. Switching and using the right wallet, says this VP, will be “a breeze during the buying process.\u201d<\/p>\n

Saxena added that:<\/p>\n

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\u201cIn the end, this NFT will show up on your profile too. You can always hide it or list it for sale immediately.\u201d\u00a0<\/p>\n<\/blockquote>\n

He also announced that he would share a preview of Coinbase\u2019s social discovery feed next week, and show how users can follow artists to discover new NFTs.<\/p>\n

The latest development comes as major crypto exchanges are intensifying their efforts to streamline more NFT-related activities and transactions into their platforms.\u00a0<\/p>\n

Last December, rival crypto exchange Kraken<\/strong> announced it was working on a new functionality that would enable its users to borrow funds against their NFTs. Jesse Powell, the company\u2019s CEO, said Kraken was developing a system that would determine the liquidation value of users\u2019 NFTs.\u00a0The exchange\u2019s forthcoming NFT marketplace will also provide custodial services to its users.<\/p>\n

Meanwhile, major social media site Reddit <\/strong>is testing a feature that would allow users to set any <\/i>of their NFTs as their profile picture, not just Reddit’s own CryptoSnoos, TechCrunch reported. The article cites Reddit as saying that this NFT test is in the early stages and hasn\u2019t been made available to public users on the site. Additionally, details about how Reddit\u2019s NFT support would work are still undecided.\u00a0<\/p>\n

As reported last week, Twitter<\/strong> announced it would allow some users to use verified NFTs as their profile pictures. \u201cSetting up an NFT profile picture means people can associate your Twitter account with your connected wallet\u2019s public crypto wallet address,\u201d the company said.<\/p>\n

____<\/p>\n

<\/strong>
– NFTs in 2022: From Word of the Year to Mainstream Adoption & New Use Cases
– NFTs Might Reach Facebook & Instagram as Meta Mulls NFT Marketplace – Report<\/p>\n

– IRS Says It Is Fighting \u2018Mountains\u2019 of Crypto & NFT \u2018Fraud\u2019 and Celebrity Shills
– Have We Reached Peak NFT Hype?<\/p>\n

– NFT Infrastructure Moves: OpenSea Acquires Dharma, Coinbase Partners With Mastercard
– Coinbase to Launch Crypto Derivatives in US, While Lawmakers Urge CFTC to Beef up Crypto Regulation<\/p>\n<\/p><\/div>\n