Coinbase Ventures Into the NFT Market – Trend Setting for Other Crypto Platforms?

Coinbase Ventures Into the NFT Market – Trend Setting for Other Crypto Platforms?

Coinbase has announced the launch of its marketplace for non-fungible tokens (NFTs). Prospective users will be able to join the waiting list to use Coinbase NFT – a decentralised marketplace for NFTs that will make minting, purchasing, showcasing, and discovering NFTs easier for its users.

NFTs offer buyers the opportunity to own digital assets that are stored on the blockchain. NFTs have gained mainstream attention across the art, music and fashion industries, enabling creators to monetise their digital work and providing buyers with a unique and clear proof of ownership.

NFT trading activity is on the rise. It soared this summer, more than doubling between July and August 2021, with roughly 280,000 unique buyers and sellers by the end of August. High profile NFT sales include the £500,000 sale of the ‘Charlie Bit My Finger’ NFT earlier this year.

Coinbase NFT will be a peer-to-peer marketplace designed to enable creativity. The initial launch will support Ethereum-based ERC-721 and ERC-1155 standards with multi-chain support planned for the near future. The platform has been created to foster community and connect creators, collectors and fans. Users will receive a personal feed that will showcase their NFTs in one place, helping to connect them with like-minded fans or artists.

As part of Coinbase’s overarching mission to drive economic freedom, Coinbase NFT will empower creators and help to raise the ‘creator economy’ from being a smaller subset of the ‘real economy’ into a central driver of economic activity.

The Knock-on effect

Despite using blockchain, crypto exchanges have typically kept their distance from NFTs. In the last couple of years, NFTs have seen an unprecedented level of popularity, setting off alarms for crypto exchanges, making them wonder if it should be something to look at. Coinbase has finally taken the plunge, but what will this mean for the NFT market and how will other crypto exchanges respond?

Barron Solomon, CEO and co-founder of Solo Music said, “While established exchanges like Coinbase and Robinhood [rumoured] have come to the NFT space later than the industry’s most prominent platforms, their arrival is a promising sign for the future of NFTs. Crypto-curious people are likely to feel more comfortable starting their NFT research with entities they know and trust, with familiar platforms. Once they dip their toe into the NFT world, I’m confident that they will become interested in the space and look to platforms new or old that are offering unique NFTs specific to their interests. I think NFTs in the music and entertainment industry in particular will see massive engagement as fans and consumers become more familiar with engaging in the digital space. Ultimately, this will lead to mainstream adoption which benefits the industry as a whole.”

“Coinbase’s Coinbase NFT launch signals that the entire cryptocurrency market has fully embraced NFTs.” said Aubery Strobel, Head of Communications at Lolli. “For many, Coinbase was their first experience in buying bitcoin and other alt-coins. Now it will be, for many, their first on-ramp to owning an NFT. Next for this industry will be the integration of NFTs into a digital and physical identity across platforms, creating the beginnings of the metaverse.”

On the topic of the digital and physical identity Victor Hogrefe, CBO and Co-Founder at EonLabs, said, “A broader point here about NFTs is that their popularity shows we’re shifting from the real-world economy to the digital economy. It’s about changing how and what we value.

“It may not be a smooth ride for NFTs, though. The tokenisation of traditional assets has met with two massive obstacles:

  • The problem of connecting the asset with the token in a meaningful and secure way, thus preventing double-spending or other types of fraud (If I can tokenise a house, and sell those tokens to overseas investors, what is to prevent me from then also selling the house in a traditional way, thereby double selling the house?)
  • Securities laws. The problems of dealing with securities law, regulatory and jurisdictional issues make tokenisation of assets a pain and tend to erode the benefits of doing so at all.

“The low-hanging fruit of asset tokenisation is assets that already only exist in digital form, and this is exactly what we’ve seen with the rise of NFTs.”

María Paula Fernandez, Advisor to the Board of Directors at Golem Network said, “Coinbase have a proven track record of having one of the easiest crypto onboarding processes in the industry. Coinbase provided many options for getting the best use out of coins, but we never had anything like that for NFTs. OpenSea is good but they are not as widespread as Coinbase – they don’t have the know-how of what a user needs to the same extent, and how to capitalise on an increase of users through word of mouth.

“It would be great to see other crypto platforms follow suit but they would have to be mindful approach towards onboarding new technologies and new users – understanding the risks that come with this.

“I think Coinbase’s expansion is fantastic as we needed healthier competition in the space. No market should be dominated by a singular business. The expansion offers a new alternative for people, to change up what they had previously been used to and not go to that only option in the market.”

Anndy Lian, Founding Member of INFLUXO, said “The announcement that Coinbase is entering into the NFT market, coupled with FTX launching a Solana-based NFT marketplace, suggests strongly that NFTs are going to go mainstream in a big way. While the current dominant NFT marketplace OpenSea has seen up to 80,000 transactions a day its browser based wallet is not super easy to use at times and there have been security issues which have put people off. The Coinbase emphasis on usability, from initial minting to discovery of new and exciting NFTs, is a sign of the growing accessibility of the NFT market. Another sign of taking NFTs mainstream may be what Coinbase describes as a ‘personal feed’, blending social media and NFTs. Following Twitter’s rollout of profile NFTs and TikTok’s launch of its first creator-led NFT collection, TikTok Top Moments, this could be huge, especially if Facebook picks up on this NFT personalization trend and runs with it.

Coinbase’s reach will bring new users to the world of NFTs and whilst they will initially only use Coinbase as a means to trade and mint, the more confident they get, the more likely they will explore other platforms.

 

 

Author

Francis is a junior journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

 

Original Source: https://thefintechtimes.com/coinbase-ventures-into-the-nft-market-trend-setting-for-other-crypto-platforms/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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Virtual Asset Market in 2021: Anndy Lian said “Crypto is ready for mainstream”

Virtual Asset Market in 2021: Anndy Lian said “Crypto is ready for mainstream”

The market for virtual or digital assets has evolved since its inception in 2009. The changes are rapid. The market has been dominated for some time by Bitcoin and in this recent bull run, the altcoins are also doing very well, some of them with a few thousand per cent increase. We are now seeing significant growth. People from all over the world have flocked to digital assets like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA), Binance Coin (BNB), TRON (TRX), DOGECOIN (DOGE) and etc.

There is also worldwide commercialization of blockchain trend in the market. Companies are now more open to look at this technology. Companies that are more forward-looking are also looking at the potential of tokenising their assets.

The regulatory momentum that began in 2020 will continue in 2021 as regulators around the world seek to either fit blockchain technology into existing regulatory frameworks or build out new approaches. The framework in future could include what is being built in the decentralised environment too.

Join Anndy Lian to discuss the points above. This event is organised by STOBOX and supported by Blockcast.cc

00:00​ — Intro
1:35​ — About Anndy Lian
3:18​ — Mass commercialization of blockchain
8:10​ — Are governments supporting blockchain
13:29​ — Does crypto go mainstream?
18:22​ — Will DeFi replace traditional finance
24:37​ — How to build a community?
30:34​ — Where is the regulation globally moving for digital assets?
38:16​ — How are large corporation moving into crypto
45:42​ – Last words

Anndy Lian is an early blockchain adopter and experienced serial blockchain entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030” and currently the Advisory Board Member of Hyundai DAC Technology. Anndy is also part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce (Chairman, Bitcoin Foundation) and Alexis Sirkia (Founder of Yellow.com), helping the province to grow using blockchain technologies.

He played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region. Anndy is also part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce.

Lian is also the Chairman (Singapore) for Korea eSports Industry Association (KeIA), Advisor to CZZ and Investment Director at Passion Venture Capital.

To find out more about Anndy Lian’s work, please visit www.anndy.com

 

The full video can be found at https://youtu.be/BBh8dA_OKMk

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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ABC NEWS- Anndy Lian: Regulations for blockchain and crypto market will bring positive impact to the market

ABC NEWS- Anndy Lian: Regulations for blockchain and crypto market will bring positive impact to the market

Anndy Lian, blockchain advisor for Inter-Governmental agency and book author of “Blockchain Revolution 2030” sees that regulation for the blockchain and crypto market will bring positive impact to the markets.

Anndy is the moderator at the Biki Korea Investment Insights event held on 2 October 2019. He is joined by distinguished panelists: Ethan Ng – CEO, BiKi Southeast Asia, Joony Koo – Founding member, BlockCrafters, Fred Kim – Partner, Rocketfuel, Steve Lee – Head of Asia, BlockTower Capital, Jackson Ra – Head of Advisory, Chain Partners, Christine Choi – Cofunder, BlockPatch and KJ Ha – Principal, Blockwater Management. The panel discussed about the latest in crypto investments and what to look out for in 2020.

”I believe that regulators must develop deeper understandings of blockchain technology and its potential impact as they continue to engage in forming the regulatory framework. With sufficient help from the government, it will bring more confidence for people to understand and use blockchain beyond the knowledge of bitcoin. Regulated digital assets exchange will be the way forward and it can create positive impacts to the existing markets,” shared Anndy Lian.

Steve Lee from BlockTower Capital also echoed similar views: “I believe that everyone in the industry now hope to see more regulations created. Regulations will eventually make the industry better. Korea is already working on this and we will see the outcomes in time to come.”

This event coincides with the Korea Blockchain Week 2019 and also part of Biki’s World Tour to promote their business. ”I am happy to see old and new friends at this event. Despite the rainy weather, we still have a full house of audiences. I am grateful to all our supporters in Korea,” Ethan Ng told Blockcast.cc Reporter, Joann Park at the event.

Biki Exchange is the rising star and one of the most talked about exchange in 2019. They are ranked Top 20 in the world currently and is building a very strong business proposition with their network and global communities. Biki will continue their efforts in Korea and will be back very soon to share more updates with their community.

Media Contact
Company Name: Blockcast.cc
Contact Person: Jenny Zheng
Email: Send Email
Phone: +65 98832707
Country: South Korea
Website: https://www.blockcast.cc

Source: https://www.abc6.com/story/41151502/anndy-lian-regulations-for-blockchain-and-crypto-market-will-bring-positive-impact-to-the-market

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

j j j

Anndy Lian: Regulations for blockchain and crypto market will bring positive impact to the market

Anndy Lian: Regulations for blockchain and crypto market will bring positive impact to the market

Anndy Lian, blockchain advisor for Inter-Governmental agency and book author of “Blockchain Revolution 2030” sees that regulation for the blockchain and crypto market will bring positive impact to the markets.

Anndy is the moderator at the Biki Korea Investment Insights event held on 2 October 2019. He is joined by distinguished panelists: Ethan Ng – CEO, BiKi Southeast Asia, Joony Koo – Founding member, BlockCrafters, Fred Kim – Partner, Rocketfuel, Steve Lee – Head of Asia, BlockTower Capital and KJ Ha – Principal, Blockwater Management. The panel discussed about the latest in crypto investments and what to look out for in 2020.

”I believe that regulators must develop deeper understandings of blockchain technology and its potential impact as they continue to engage in forming the regulatory framework. With sufficient help from the government, it will bring more confidence for people to understand and use blockchain beyond the knowledge of bitcoin. Regulated digital assets exchange will be the way forward and it can create positive impacts to the existing markets” shared Anndy Lian.

Steve Lee from BlockTower Capital also echoed similar views: “ I believe that everyone in the industry now hope to see more regulations created. Regulations will eventually make the industry better. Korea is already working on this and we will see the outcomes in time to come.”

This event coincides with the Korea Blockchain Week 2019 and also part of Biki’s World Tour to promote their business. ”I am happy to see old and new friends at this event. Despite the rainy weather, we still have a full house of audiences. I am grateful to all our supporters in Korea.” Ethan Ng told Blockcast.cc Reporter, Joann Park at the event.

Biki Exchange is the rising star and one of the most talked about exchange in 2019. They are ranked Top 20 in the world currently and is building a very strong business proposition with their network and global communities. Biki will continue their efforts in Korea and will be back very soon to share more updates with their community.

 

Media Contacts

Company: Blockcast.cc
Contact Person: Jenny Zheng
Contact Number: +65 9883 2707
Contact Email: [email protected]
Location: South Korea

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”. Currently, he is appointed as Chairman, Asia for BigONE Exchange and Chief Digital Advisor, Mongolia Productivity Organisation. Anndy is part of the Gyeongsangbuk-do Blockchain Special Committee, Government of Republic Korea, together with industry experts such as Brock Pierce. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region and was previously the Advisory Board Member of Hyundai DAC Technology.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

You can read more about Anndy’s work at www.anndy.com

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