Coinbase is Planning to Launch NFT Wallet for Users

The Coinbase exchange is one of the few public-traded cryptocurrency organizations operating out of the United States. The company decided to file for a listing at the NASDAQ exchange this year and has been doing pretty ever since. However, Coinbase has been moving very slowly by introducing innovations and upgrades on the platform.

There are a very limited number of selected digital asset tokens listed on the platform. Now, the company has decided to introduce the first-ever NFT-compatible digital wallet for its users. The NFT wallet is going to be available for users around the world in the form of a browser extension. This is the first-ever big Ethereum digital wallet to offer this service.

Web3 is a new type of technology that allows users to exist in a 3D virtual world and interact with each other. Several gaming projects are trying to construct a space with three-dimensional characters and NFTs to allow the players to enjoy an amazing and more interactive gaming experience.

The Coinbase Wallet leader named Sid Coelho Prabhu recently told the media that the new digital wallet compatible with NFTs is going to help the transition of Web3 technology for the masses. The new wallet will allow the users to get the updated floor prices for their digital assets reserves. Up until now, the Coinbase wallet users were only available in the mobile application of the Coinbase trading platform.

According to the comments of Oppenheimer and Co-founder Owen Lau, the new Coinbase wallet can add as much as a 7% revenue increase for the exchange platform in 2023.

One spokesperson from Coinbase recently told the media that the wallet is going to allow the NFT community members together and interact with each other without the need for engaging any third-party applications. Prabhu opines that the new digital wallet with NFT capabilities is going to allow the users to come together with greater accessibility and interact without having to deal with unnecessary hassles.