Our mission at Coinbase is to increase economic freedom in the world. By enabling more people to join the creator economy and profit from their work, NFTs have an important role to play in this mission. Their impact is already being felt. NFT artists have shaken-up the traditional art world. Industries such as fashion, gaming, and music are recognizing the power of NFTs to unlock new forms of creativity and ownership. But if you’ve tried to create or purchase an NFT, you’ve probably found the user experience lacking. We can help.
Today, we’re announcing Coinbase NFT, a peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs easier than ever. Just as Coinbase helped millions of people access Bitcoin for the first time in an easy and trusted way — we want to do the same for the NFTs.
We’re making NFTs more accessible by building user-friendly interfaces that put the complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery. And we’re going to grow the creator community exponentially, a win for artists and for fans.
Creating an NFT should be as simple as tapping a few buttons. Anything more complicated is a barrier to creativity. Coinbase NFT will be a peer-to-peer marketplace that empowers the imagination. With an intuitive design built on top of a decentralized marketplace, Coinbase NFT puts the art and artist’s experience at the forefront.
A key part of that experience is control. We will make it effortless for artists to maintain creative control through decentralized contracts and metadata transparency. All NFTs are on-chain. The initial launch will support Ethereum based ERC-721 and ERC-1155 standards with multi-chain support planned soon after. We’ll provide the best user experience, but we’ll never lock creators in.
Buying and selling will be core features of Coinbase NFT. We’ll have a vibrant, secure marketplace. But we believe we can do much more. We’re designing for social engagement. By fostering connections, Coinbase NFT will help creators, collectors, and fans build community. Based on your interests we’ll curate your personal feed. Your profile will showcase all your NFTs in one place, helping you connect with like-minded fans or artists. The social element shapes the future by sharing passions, birthing new collaborations, and firing up the imagination.
People are inherently creative. We create art, express our individuality, build community, and seek meaning. But there’s never been a universal way for creators to own, control, and benefit from their creations, particularly in the digital world. Until now. Our ambition with Coinbase NFT is to allow everyone to benefit from their creative spark; to contribute to a future where the “creator economy” isn’t a small subset of the “real” economy, but a central driver.
About Sanchan Saxena
Sanchan Saxena is a Vice President of Product at Coinbase, where he is responsible for working on the latest innovations in crypto — including Coinbase’s NFT marketplace and products that allow customers to access the new world of decentralized finance (DeFi). Prior to Coinbase, Sanchan was the General Manager at Airbnb, where he led a cross-functional team focusing on product management, engineering, design and operations. Before Airbnb, Sanchan spent time at Facebook and Instagram building social and commerce products like Instagram Shopping. Sanchan received his Bachelor of Science degree from Punjab Engineering College in India.
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