More than 900,000 people signed up for Coinbase’s NFT platform waitlist — and it’s only day one
October 13, 2021, 4:21PM EDT
1 min read
So many people tried to sign onto the waiting list for Coinbase’s new NFT platform that the traffic broke the site.
“We are getting a LOT of signups — so grateful for all your interest,” wrote Coinbase’s Vice President of Product Sanchen Saxena on Twitter. “We are seeing insane loads on our servers and our team is working hard to get this resolved. Check back soon!”
At the time of publication, 930,263 are waiting to join Coinbase’s forthcoming NFT marketplace, which is slated to launch in late 2021. Currently, only people older than 18 and who reside in the US can join the waitlist, through the crypto exchange plans to add more countries in the future.
Coinbase’s NFT platform will allow users to mint, display and discover NFTs. It will also feature self-custody wallets and forgo the know-your-customer (KYC) checks that the platform requires for its brokerage clients.
Coinbase is the second exchange this week to announce that it will launch an NFT platform. FTX.US launched the Solana-based NFT platform on Monday.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.