On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
With 68 million verified users and 8.8 million monthly active users as of Q2 2021, Coinbase’s entry to the NFT industry could provide competition for established marketplaces like OpenSea.
Major crypto exchange Coinbase has announced it will be opening a waitlist for a nonfungible marketplace it plans to launch later this year.
In an Oct. 12 blog post, Coinbase vice president of product and ecosystem Sanchan Saxena said the nonfungible token, or NFT, marketplace would allow its users to mint, purchase, discover, and showcase Ethereum-based tokens. According to Saxena, the offering will allow creators to maintain control of their artwork “through decentralized contracts and metadata transparency,” with all NFTs on-chain.
The Coinbase announcement comes following crypto exchange FTX and its U.S.-based subsidiary introducing a marketplace with users able to trade NFTs cross-chain through the Ethereum and Solana blockchains. Binance, the world’s largest crypto exchange, entered the NFT market in June by launching its own marketplace aimed to minimizing transaction costs.
With 68 million verified users and 8.8 million monthly active users as of Q2 2021, Coinbase’s entry to the NFT industry could provide competition for established marketplaces like OpenSea and Rarible. OpenSea’s head of product Nate Chastain is facing criticism for using burner wallets to purchase NFTs on the platform so the artwork could receive more attention on the website’s front page. The platform mainly uses Ethereum, which dominates sales in the NFT market.
Related: Blockchains vie for NFT market, but Ethereum still dominates — Report
According to data from DappRadar, the total transaction volume on OpenSea was $8.7 billion at the time of publication, making it the biggest NFT marketplace. NFT sales through the Pokemon-inspired Axie Infinity game came in second at $2.5 billion.
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