Coinbase NFT platform suspends listing new projects: will focus on developing creator tools

The cryptocurrency community on Twitter has started spreading rumors about Coinbase NFT platform shutting down. The official clarification is that they will temporarily focus on platform development and other areas, they have currently stopped listing new NFT projects but will not be shutting down the platform.

Rumors Circulate that Coinbase NFT is Shutting Down

Artist Jessica Yatrofsky tweeted that her NFT project "XX GEN" was supposed to launch on Coinbase NFT in February, but she learned privately that the platform would be shutting down this month. Independent artists like her received no notification, and Coinbase has not made any statements regarding this.

She plans to release her new project through the self-serve Launchpad platform NiftyKit.

Coinbase NFT: Not Closing Down

Coinbase NFT responded to many community inquiries, emphasizing their willingness to explore other collaboration opportunities with Jessica Yatrofsky in the future. They clarified:

We will pause the listing of new NFT projects and focus on delivering other features and tools that creators need. It should be explicitly stated that we are not shutting down the Coinbase NFT marketplace.

Congratulations on your upcoming drop!

To clear up confusion: we're pausing Drops for now to focus on other areas within Coinbase NFT, but we're not shutting down the Coinbase NFT marketplace.

As we shared with you, we'd love to find more ways to work with you in the future.

— Coinbase NFT (@Coinbase_NFT) February 1, 2023

Coinbase NFT was announced in October 2021 and went live around April last year. Despite almost a year in operation, the platform still bears the "Beta" label. Additionally, with a very low market share, NFTGo transaction volume rankings show no presence of the Coinbase NFT platform.