Coinbase's VP of product demos user experience for forthcoming NFT platform

Sanchan Saxena, Coinbase's VP of product, has demonstrated what the user experience will be like for the crypto exchange’s forthcoming non-fungible token (NFT) platform.  

Saxena posted a video Wednesday narrating the process to buy an NFT on Coinbase’s forthcoming platform. Users can find a verified NFT collection, select a specific NFT they want to buy, then purchase the token using a connected Coinbase wallet or self-custody wallet. 

“We have made it super simple to go through a buy flow. Users will be guided through a step-by-step buying process, with clear information available to them about what they need to do at each step. Switching and using the right wallet will be a breeze during the buying process,” Saxena further explained on Twitter. 


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To be clear, Coinbase has not announced the launch date of its NFT platform. But with over 900,000 people already in line to use the platform — and the top NFT marketplace OpenSea continuously drawing ire for user issues — Coinbase’s NFT platform appears primed to hit the ground running at launch.

As The Block's Data Dashboard shows, OpenSea still dominates NFT marketplaces with a majority of the monthly trading volume. A new competitor called LooksRare joined the scene in January and brought in $1.87 billion in sales, though The Block Research notes that a majority of this activity came from individuals trading with themselves to drive up prices.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.