Coinbase, the largest US cryptocurrency exchange, launched the beta version of its NFT marketplace last week. Less than 900 transactions were seen in the first week.
According to data from crypto analytics site Dune, less than 900 transactions have been processed on the Coinbase NFT marketplace since its launch on April 20.
The total trading volume in the market was 73 ETH (roughly $217,000). So far, 650 users have made a transaction.
The low usage statistics seem to be due to Coinbase only allowing access to a small fraction of its three million waitlist.
In OpenSea, the world’s largest NFT marketplace, 36,000 users traded over $808 million in the same period.
Coinbase plans to attract more users to the platform with exclusive partnerships it will announce in the coming months. The exchange states that the NFT marketplace is still under development.
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