Innovative CEO? Coinbase CEO to release electronic music NFT

Despite the impending Nasdaq listing, the CEO of Coinbase took time to release his music creations from the past year in the form of NFTs, with plans to donate all proceeds to electronic music artist David Khanjian, who has long been a source of musical inspiration for him.

Brian Armstrong's Love for Electronic Music

Coinbase CEO Brian Armstrong announced this news on Twitter. He mentioned that he used to listen to a lot of electronic music while coding for Coinbase years ago, particularly enjoying songs by DJ DAVI David Khanjian, with a preference for instrumental tracks as lyrics distract him from work.

Armstrong stated:

During the COVID-19 pandemic, I started learning electronic music production. I do something like this every year, and David would give me free music lessons. Over the past year, we've collaborated on these songs, which has been a fun way to learn software like Ableton Live for music production.

Armstrong emphasized that almost 99% of the creation is done by David, but he still finds it very enjoyable.

Full NFT Proceeds Donated

Three songs will be released in NFT format on the Zora.co platform backed by Coinbase Ventures, with all proceeds to be donated to David Khanjian, as announced by Armstrong.

Amidst intense competition among exchanges, token listings have become more frequent. Coinbase Pro recently announced the listing of coins such as 1INCH, ENJ, NKN, OGN, all experiencing varying degrees of price surges. NKN, in particular, has surged over 300% since April.

With Coinbase's impending Nasdaq listing, the first-quarter financial report for this year has brought significant positive news. Trading volume, net profit, and pre-tax profit have all nearly tripled, with trading volume almost double that of the entire 2020.

Currently, Coinbase's implied valuation stands at $100 billion. At the time of writing, in the FTX exchange's equity token market, the trading price is $487, with over 2.5 billion shares, indicating a market valuation of over $120 billion. This could potentially propel Coinbase directly into the top 100 of Asset Dash's global asset rankings, with a direct listing expected on April 14.