The NFT Marketplace in Coinbase has a poor performance

The NFT Marketplace in Coinbase has a poor performance ...

The company has seen very little activity or sales since launching the Coinbases NFT marketplace on April 20, but the first week was marked by a lackluster performance for the marketplace, which is still in closed beta mode, with limited registrations, sellers, or buyers hawking or buying non-fungible tokens.

During the first week, the platform only reported about 900 transactions worth $300,000 worth of traded cryptocurrency (equivalent to around 104.5 Ethereum).

Coinbases'' stock fell to an all-time low in the days following the launch of the NFT marketplace, indicating that investors weren''t keen on the launch of the new marketplace, which, according to some critics, might have come to late. Like OpenSea, the company had already failed to arrive in an early stage.

The volume of trade was also evident in the connection between the two. OpenSea sold a total of $94.8 million on Thursday, while Coinbase only boasted a total of $100,000.

OpenSea is still the most popular platform, with over 1.5 million users, while Coinbase hasn''t reached 700 users.

Most Coinbase users haven''t performed a transaction yet, whereas users on OpenSea have all conducted at least one.

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