Currently, NFTs (non-fungible tokens) continue to act out on the ethos of cryptocurrencies, whereby they are everywhere. Recognizing an opportunity, the cryptocurrency platform Coinbase has announced its NFT marketplace. Many people are still waiting in anticipation of its arrival. Here's what to expect with the Coinbase NFT waitlist and its launch.
The Coinbase NFT marketplace is a digital marketplace where users can mint, collect, and showcase their NFTs all in one place. Streamlining the process of acquiring an NFT is very much in line with Coinbase's aim to "increase economic freedom in the world."
While ensuring that users can experience the ease of an NFT marketplace, Coinbase has cleverly created a waitlist to monitor its demand and increase the hype.
Who's eligible to join the Coinbase NFT waitlist?
Coinbase is opening up its Coinbase NFT marketplace waitlist to users who first and foremost meet the following criteria. Users must be at least 18 years or older and have to reside in the U.S. Coinbase intends to open its marketplace to other countries and will be updating the waiting list accordingly.
Users don't necessarily have to join the email waitlist to enjoy the ease of the Coinbase NFT marketplace when it fully launches. However, Coinbase is encouraging users to sign-up for its referral campaign to rally users to be the first to experience the NFT marketplace. They will receive updates on its official launch date.
How the referral campaign works for Coinbase NFT
As with any waitlist, it operates on a "first-come, first-serve" basis. Currently, the waitlist has amassed over 2.5 million email addresses, and while some of them might be bots, the amount of demand is clear. Coinbase created a referral campaign for users to potentially move up their positions on the waiting list.
For users to successfully move up the waiting list, they must ensure the following:
- Must have completed the waitlist sign-up on Coinbase NFT
- Retrieve the referral link to give to others to use
- Once the referral link gets used successfully, Coinbase reconfigures the user's placement to a higher ranking.
- Users move up on the rank by the number of waitlist sign-ups received through sharing the unique referral link.
Unfortunately, Coinbase NFT doesn't show users how many positions they have moved based on the number of people referred, only where they fall in line on the waiting list.
When will Coinbase NFT officially launch?
While the team at Coinbase NFT continues to hint and tease at the final product for the marketplace, there isn't a clear indication of when the NFT marketplace will officially launch other than "late 2021." Essentially, before the end of the year, Coinbase will start bringing people onboard from off the waitlist for early access, and soon after will be open to the public.
The best thing users can do now is either stay patient or take full advantage of the referral campaign, while potentially onboarding new users into crypto and NFTs.