Coinbase is not Giving Up on NFT Marketplace
Join Our Telegram channel to stay up to date on breaking news coverage Yesterday, cryptocurrency exchange Coinbase gave a signal that it will not be giving up on its NFT project any time soon. This is true notwithstanding a sharp decline in volume over time and increased shareholder scrutiny. Coinbase received a number of inquiries regarding the firm’s health on an earnings call with investors and analysts after the company reported higher-than-expected sales and a loss of $577 million for its final fiscal quarter of last year. Shareholders asked a query on the exchange’s NFT endeavor, a platform that was introduced last spring. It requested information from Coinbase on how much money the company has lost as a result of its NFT marketplace as well as how it intends to “minimize the burn” that comes with running the platform. The stakeholder also pondered the future of the industry and ways in which Coinbase may expand its market share. According to a Du...