Coinbase NFT announced that it will suspend creator drops in order to concentrate on integrating features creators want more. It is not as absurd as it sounds, but the platform is trying to find the key element that will help the marketplace grow with users. The marketplace insists that it will not be closing down despite the pause.
Recently, we shared that we will be putting creator Drops off the NFT marketplace in order to concentrate on other tools and features that creators request.
To be clear, we are not closing down Coinbase NFT.
— Coinbase NFT (@Coinbase_NFT), February 1, 2023
The platform’s mission is unchanged and the team remains optimistic about its future. Some people in the NFT space are still baffled by the announcement. Many are baffled by the fact that the platform must pause drops to allow for more features. Why not both?
Coinbase NFT Appears Short On Staff
A common belief is that the team is not adequately staffed. Coinbase has been undergoing a mass exodus in an effort to reduce costs over the last year. Coinbase NFT is one of the most affected areas.
This is confirmed by the spokesperson, who noted that “the Coinbase NFT Team realigned their resources to focus its resources on the areas with highest impact for its customers.”
Surojit Chatterjee (Chairman of Product) was one of the most prominent figures to go six months after Coinbase NFT launched. Although the platform was not as successful as they hoped, it managed to attract $7.7million in total volume trades. OpenSea, the largest NFT marketplace, has witnessed over $11.3 million in total volume traded over the last 24 hours.
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*All opinions regarding investment and financial matters expressed by NFT Plazas come from the research and experience of site moderators. They are meant to be educational and not for profit. Before making any type of investment, individuals are responsible for fully researching any product.
NFT Plazas’s first article, Coinbase NFT Suspends the Creator to Focus on Rebuild appeared on NFT Plazas.
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