There are a lot of issues with Coinbase, but they've definitely been making some very smart moves as of late, which will likely have a positive effect on $COIN. I posted about UnitedMasters' partnering with Coinbase to enable musicians to earn in crypto, and now I'm back to share that they're planning to get into NFT trading.

All roads are clearly leading to web3!

I think a smart thing for them to do would be to acquire tryshowtime.com/ 👀

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Nathan Worden's avatar
Long term, everything will get tokenized and be traded on exchanges. Coinbase has a good shot at getting there first. Makes sense that the next step is to get into NFT trading— its the shortest jump from crypto tokens themselves.
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Sidni Standard's avatar
Plus with their brand recognition they'll get people to consider NFTs who've never been exposed to them, but know that Coinbase is the place to buy crypto

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Nathan Worden's avatar
^That is a great point. I'd love to see someone incorporate NFT transaction fee revenue into a DCF for Coinbase 😃 I doubt analysts are looking at that yet.

@strategicinvestors — as someone who was looking at Coinbase closely when they were going public, what is your perception of how adding NFT trading on Coinbase would effect it's valuation? Is this something most investors are even thinking of when valuing the company?
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Jonathan's avatar
Things always get worse before they get better...

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Sidni Standard's avatar
This is exactly what I was thinking about with regard to their issues!
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Eric Pelnik's avatar
Curious to hear what @gmishra and @crosswindcap think about their expansion into NFTs. As a fairly active buyer of NFTs I'm excited and think it makes a ton of sense. Will be interesting to see how they handle royalties and fees.
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Gaurav Mishra's avatar
@eric It’ll definitely help in long term. OpenSea last stats where like 3m users. That’s a drop in the ocean.

Short term, it’ll be bloodbath. FTX entry has created enough riff in the community! With big names, comes big scrutiny.
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