Coinbase CEO anticipates planned NFT marketplace more akin to Instagram than eBay

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Coinbase CEO anticipates planned NFT marketplace more akin to Instagram than eBay
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'You can go there and buy an NFT if you really like it, and showcase it in your own social profile,” Coinbase CEO Brian Armstrong said of the company's upcoming NFT marketplace.

Brian Armstrong, chief executive officer of crypto exchange Coinbase Global Inc., said Tuesday that the company aims to provide a social experience through its planned non-fungible token, or NFT, marketplace, making the platform more akin to Instagram than eBay.

“I think having people follow your favorite artists or creators, and having a bit of content that gets populated from those people you follow, that can be really powerful,” Armstrong said. “And in addition, you can go there and buy an NFT if you really like it, and showcase it in your own social profile.””So just simple things like, how do you connect your wallet? You know, hopefully you don’t have to install a Chrome extension,” Armstrong said.

During the third quarter, Coinbase’s total revenue declined to $1.31 billion from $2.23 billion in the second quarter, while transaction revenue totaled $1.09 billion, down from $1.93 billion in the second quarter.

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