Coinbase NFT Announces Collection Creation Feature

Coinbase NFT recently announced its long-awaited NFT Collection Creation Feature for artists. Here's what you need to know:

The Details

• All artists and creators can now mint a collection directly on the Coinbase NFT platform
• The company is calling the feature an “all-in-one NFT builder with on-chain editing”
• Collections can be ERC-1155 or 721 tokens

The Strategy

• Respond to calls by the creator community for the ability to mint on the platform. Its current functionality which is limited to collectors, traders, and flippers
• Expand on their creator features + offerings:
• In early October, Coinbase NFT announced Collector Downloads. This allows creators to download their collector wallet addresses and communicate with them
• Address existing problems in collection contracts from competitors like manifold.xyz and Opensea

The Review

I'd review this strategy as a 3.5/5 - despite the lack of excitement the announcement drew from the community. Understandable given their much-hyped, but underwhelming platform launch back in April 2022.

Coinbase NFT is doing now what it should have done back in April with its initial launch. Use budgets, tech, and platforms to provide solutions to the creators in web3, as much as the collectors.

It’s going to take some time for Coinbase NFT to regain the trust of the creator community. But more options for simple and secure platforms that provide artists with ownership over their work, is always a good thing.

See here for step-by-step instructions on how to mint a collection.

Disclaimer: this article reviews Cool Cat Group + Animoca Brands' recent web3 business decisions. It is not a reflection or statement of my views of these companies or any other areas of their businesses.