Coinbase NFT Beta Launches With Abuse, Insults, and Arguments

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  • Coinbase NFT launched in beta mode yesterday, but its ‘community’ idea has not started well
  • Discussions underneath specific NFTs were riddled with insults and arguments
  • Coinbase NFT has pushed the idea of “social engagement” around its platform

The much anticipated (from Coinbase, anyway) Coinbase NFT marketplace has launched its beta version, and its “social engagement” efforts have fared as well as had been anticipated. Coinbase NFT was announced last year with the aim to “provide the best user experience” and increase “social engagement” around NFTs by curating a personal feed according to user interests and connecting like-minded collectors. However, the initial reviews aren’t too promising, with arguments and insults erupting underneath individual NFTs as Coinbase aims to create a community around the new asset class.

Coinbase NFT – Create, Collect, and Connect…and Insult

In a blog post accompanying the launch, Coinbase says that it had received “amazing feedback” on its design and functionality, which only usually means one thing, before outlining the functionality of the site:

Beta testers will be able to create a Coinbase NFT profile to buy and sell NFTs using any self-custody wallet, whether that’s Coinbase Wallet or something else. For a limited time, there’ll be no Coinbase transaction fees. We’ll eventually add fees, which will be in-line with Web3 industry standards, and we’ll provide notice before anything changes.

The concept of ‘Coinbase’ and ‘no fees’ is something that the cryptocurrency community is certainly not used to, and it seems like it won’t be long until the natural order is restored.

As for how Coinbase’s feedback has impacted its research, Coinbase added the following:

We learned that people don’t just want better tools to buy and sell NFTs: they want better ways to discover them, better ways to find the right communities, and better spaces in which they can feel connected with each other. That’s why we’re building a product that’s much more than a transaction. We’re looking to empower people to create, collect, and connect.

However, early reviews of the platform suggested that what people really wanted was more ways to tell each other to f**k off:

Others weren’t too happy with the level of originality show in the design:

The concept of Coinbase NFT creating a ‘community’ around NFTs was always going to be a precarious one, and it seems that, in its early iteration at least, it hasn’t started too well.