Blockchain.com to Unveil its Own NFT Marketplace

Blockchain.com, a cryptocurrency exchange and wallet provider, has disclosed intentions to develop a marketplace for NFTs. Blockchain.com announced the launch of a standby list for its new platform and the ability for the site’s 79 million wallet users to buy, trade, and store NFTs.

The business said that it intends to simplify the existing cumbersome and difficult process of purchasing an NFT.

“There is no denying the growth and enthusiasm in the NFT industry,” the business stated in a statement. “However, we see many of the same adoption barriers that crypto experienced in its infancy. Accessing the NFT market, in particular, is much too complicated and unintuitive.”

Blockchain.com’s entry into the NFT industry follows similar forays into the field by other major exchange platforms. Coinbase announced in October that it will create an in-house market for NFTs — the product’s waiting list surpassed 1 million signups in less than 24 hours.

The decision comes in the wake of a surge in interest in the NFT sector. Last week, Collins dictionary designated ‘NFTs’ the word of the year, indicating their expanding cultural importance, and worldwide trade volumes for NFTs will top $10.7 billion in the third quarter of 2021. The new platform’s debut date has not yet been announced by Blockchain.com.