Coinbase NFT Suspends Creator Drops

Coinbase NFT has revealed that it will pause creator drops to focus on integrating features that creators seek more. As absurd as that might sound, the platform is looking for that key element that might help the marketplace take off with users. However, despite the pause, the marketplace insists it is not shutting down.

The platform’s mission remains unchanged, and the team is optimistic about the future as it continues to build. Interestingly, the announcement has a few individuals within the NFT space baffled. Some are wondering why the platform has to pause drops only to add more features. Why not do both simultaneously?

Coinbase NFT Appears Short On Staff

One widely held belief is that the team is understaffed. Over the past year, Coinbase has engaged in a mass exodus of its staff in a bid to cut costs. The most impacted areas are those that were not performing very well, like Coinbase NFT.

The spokesperson confirms this speculation, noting that “the Coinbase NFT team realigned its resources to focus on the areas with the highest impact for its users.”

Among the key figures to leave was Surojit Chatterjee, the Chief Product Officer, who left six months after the launch of Coinbase NFT. The platform has not been as successful as they had hoped, managing to attract about $7.7 million in all-time total volume traded. In comparison, OpenSea, the leading NFT marketplace, has seen over $11.3 million in total volume trade over the past 24 hours.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Source link

Leave a Reply

GIPHY App Key not set. Please check settings

What do you think?

‘Crypto summer’ likely to start in Q2 2023, Morgan Creek Capital CEO says

Australian Government Releases First Steps To Regulate Crypto And Bitcoin