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Coinbase’s NFT Marketplace Opens to All, But Users Don’t Show Up

  • Site, still in testing, has very low transaction volume
  • ‘OpenSea is going to be the leader for quite a long time’
Coinbase Sued Over XRP Commissions After SEC Pursues Ripple
Photographer: Tiffany Hagler-Geard/Bloomberg

Coinbase Global Inc.’s new marketplace for nonfungible tokens is now officially open to all -- and it’s getting off to a very slow start.

After letting in a select number of users from its waiting list in the last few weeks, the U.S.’s biggest crypto exchange opened the marketplace to everyone as of noon Wednesday New York time. The site -- which Coinbase says is still in testing -- recorded fewer than 110 transactions as of about 5:15 pm, representing less than $60,000 in sales, according to tracker Dune Analytics. That compares with $124 million in transaction volume for No. 1 NFT marketplace OpenSea on May 3, the most recent day available, per Dune.