Coinbase announced that at first the NFT marketplace will only be available to a few users, but they will continue to allow more users on their waiting list to join. The marketplace will offer users the ability to buy and sell NFTs. Coinbase spokesperson also stated that their platform will offer better ways for users to find communities where they can connect while they trade in NFTs.
NFTs are unregulated which leads to inappropriate use of them. Reports of scams, fakes, and market manipulation have commonly emerged. Some platforms such as Cent have halted transactions due to individuals selling items they did not own. Coinbase announced it will provide the opportunity for users to report content that is copyrighted or fraudulent. They will also plan on implementing a feature that enables users to create (or mint) NFTs.
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