Digital Collectibles Market Booming: An NFT Marketplace Will Be Launched By Blockchain.com
Blockchain.com is launching an NFT marketplace and has opened a waitlist for users as the digital collectibles market booms. Users of the crypto-trading app can now sign up for the waiting list, the company said in a Thursday blog post. In the coming weeks, people will be able to buy, sell and store NFTs in their Blockchain.com wallet, the company said.
“We want to make accessing the NFT market as easy as accessing the crypto market,” the statement said, adding that while users wait for the new feature, they can explore NFTs on the site.
With its upcoming offering, Blockchain.com is following other crypto exchanges like Binance and FTX.US which already have NFT marketplaces of their own. Coinbase is expected to launch its version by the end of the year and received 2.5 million emails from users wanting to sign up within a month after making the announcement, according to Bloomberg.
Coinbase Chief Executive Officer Brian Armstrong said on an investor call that he thinks NFTs “could be as big or bigger” than crypto. While demand for NFTs- blockchain-enabled digital collectibles- has soared this year, cryptocurrencies remain a much larger market. Total NFT sales in 2021 are expected to hit $17.7 billion, according to a Cointelegraph research report.
Meanwhile, the total cryptocurrency market cap has hit $3 trillion in 2021. Many are also still debating the worth of NFTs. Enthusiasts say the digital assets may be the key to the future of the internet known as the metaverse. Critics, like one who right clicked and downloaded every NFT in existence, say they’re worthless and bad for the environment.