On Wednesday, the new NFT (non homogeneous token) trading platform launched by coinbase, the largest cryptocurrency exchange in the United States, was officially opened to everyone, but the platform was not as popular as expected at the beginning. Over the past few weeks, coinbase has selected some of the pre registered users for grayscale testing. At noon local time on Wednesday, the platform is open to everyone.
Coinbase said the platform was still under test. According to the data of dune analytics, a market tracking agency, as of about 5:15 p.m. Eastern time, there were less than 110 transactions on the platform, with a transaction volume of less than $60000. In contrast, opensea, the world's largest NFT platform, had a trading volume of $124 million on May 3.
Coinbase's NFT trading platform project was first announced last fall and subsequently attracted millions of people to pre register. Therefore, the results of the first day of the official launch of the platform were not as hot as many people on Wall Street expected. Coinbase hopes to promote revenue diversification and performance growth with the new platform. Coinbase is expected to experience negative growth this year.
Sasha fleyshman, portfolio manager of Arca, a digital asset management company, said: "I think other platforms have pushed up people's expectations of coinbase. I talked to their team and they understand very well that they are entering a new field and the products need to be iterated continuously. This will be a slow process, and opensea will remain a leader for quite a long time."
Coinbase declined to disclose any user activity data and declined to comment further.