The platform will let users mint, buy, show off, and discover NFTs. The cryptocurrency exchange is already a popular place to buy and sell various currencies such as Bitcoin and Ether. Coinbase wants to bring the same ease-of-use to non-fungible tokens.
All NFTs are on-chain. The initial launch will support Ethereum based ERC-721 and ERC-1155 standards with multi-chain support planned soon after. We’ll provide the best user experience, but we’ll never lock creators in.
Until Ethereum upgrades to 2.0 this means NFT buyers and sellers will have to deal with the ETH gas fees.