Non-fungible tokens (NFTs) have exploded in popularity recently as a way to buy and sell digital artwork and collectibles. One of the largest NFT marketplaces is Coinbase NFT. Here is a guide on how to use Coinbase NFT to buy, bid on, and sell NFT artwork.
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What is Coinbase NFT?
Coinbase NFT is an NFT marketplace launched by the popular cryptocurrency exchange Coinbase. It allows people to easily browse, buy, sell, and store NFTs in one place.
Key features:
- Connects directly to your Coinbase account and crypto wallets
- Includes NFTs from multiple different blockchains
- Has a large variety of NFT collections and types
- Social features to follow friends and profiles
- Secure storage for purchased NFTs
How to Sign Up
- Go to nft.coinbase.com and click “Sign In”
- Choose to connect with either Coinbase Wallet, MetaMask, or WalletConnect
- Accept permissions to connect your wallet
- You can now start browsing Coinbase NFT!
Browsing and Buying NFTs
There are a few ways to find NFTs to purchase on Coinbase NFT:
The Marketplace
- Click “Marketplace” to view all NFTs organized by category or collection
- Filter by price, listing type, blockchain, etc.
- Click an NFT to view details and purchase options
Following
- Follow artists, creators, or collectors to see their active listings
- Get notifications when they list new NFTs
Search
- Search for specific artists, collections, or types of NFTs
Once you’ve found an NFT you want, click “Buy Now” or place a bid in an auction to purchase it. The NFT will then show up in your connected wallet!
Bidding in Auctions
Many sought-after NFTs sell through auction listings on Coinbase NFT. Here are some tips for bidding:
- Set up bid notifications to get alerts before auctions close
- Bid early to anchor the floor price
- Bid last minute to win (but risk losing)
- Bid the exact allowed amount to beat tiebreakers
If you have the highest bid at the end, you win the auction and can purchase the NFT!
Selling Your NFTs
You can also sell your NFTs directly through Coinbase NFT:
- In your wallet, select the NFT you want to sell
- Choose to list for a set price or auction
- Add a description, set a price, and confirm the listing
You will pay a small listing fee and gas fee. Once purchased, proceeds from the sale go directly into your connected wallet!
Storing and Displaying Purchased NFTs
The benefit of buying NFTs through Coinbase NFT is that they offer secure storage and display options:
- NFTs are stored safely in your connected wallet
- You can view your full NFT collection on Coinbase NFT
- Use third-party apps like MetaMask to display NFTs outside wallets
So you don’t have to worry about losing access to or finding a place to showcase your NFT artwork!
Getting Started on Coinbase NFT
Signing up for Coinbase NFT is simple and connecting your wallet lets you easily buy, bid, sell, and store NFTs in one place. With their wide selection and helpful features, it’s a great starting point for entering the world of digital art NFT collecting!
