Coinbase, one of the biggest cryptocurrency exchanges in the world, is reportedly working on a strategy to attract the next billion people onto the blockchain by using Non-Fungible Tokens, according to a tweet that was just published by BuildOnBase (NFTs). Coinbase intends to broaden the use of blockchain technology and make it more available to users all around the globe with the implementation of this change.
The vision of Base is to bring 1B+ people onchain.
For the next 5 days, we’ll be evolving the artwork on our ‘Base, Introduced’ NFT to tell the story of the builders who will make that happen.
Check your NFT for the latest evolution every day at 12p ET from today until 3/6.
— Base (@BuildOnBase) February 28, 2023
According to the source, Coinbase is now engaged in the process of developing a new project that would make the onboarding procedure more user-friendly by using the power of NFTs. Coinbase expects that the usage of NFTs would streamline the process of establishing and maintaining blockchain accounts, making it simpler for new users to get started with blockchain technology.
Coinbase making significant strides in blockchain
Coinbase’s objective is to make bitcoin and blockchain technologies more accessible to people of all backgrounds, and this effort aligns with that mission. The business has been at the vanguard of attempts to bring blockchain technology to the public and has been instrumental in the process of making cryptocurrencies more widely accepted.
Coinbase intends to increase the number of users participating in blockchain transactions via the use of non-fungible tokens (NFTs), particularly among those who may be reluctant to participate owing to the complexity of the underlying technology. Coinbase’s goal is to eliminate one of the most significant barriers to entry for new users and bring a greater number of individuals into the realm of blockchain technology by making the onboarding process more user-friendly.
This action by Coinbase is a major breakthrough for the blockchain sector and has the potential to pave the path for the mass adoption of non-fungible tokens and other blockchain-based technologies. Coinbase is well-positioned to lead the push in getting the next billion customers onto the blockchain because of its huge user base and worldwide reach.
Coinbase is one of the largest cryptocurrency exchanges in the world, providing a platform for buying, selling, and storing various cryptocurrencies such as Bitcoin, Ethereum, and more. Founded in 2012, Coinbase has played a significant role in the mainstream adoption of cryptocurrency and blockchain technology. With over 68 million registered users in over 100 countries, Coinbase is known for its user-friendly interface, security measures, and regulatory compliance. The company has also been actively involved in the development of the blockchain industry, investing in startups and exploring new use cases for blockchain technology.