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New Marketplaces Rise to The Web3 Challenges After Giants Take a Fall

As the NFT world rises, so are the opportunities for creators and collectors to explore new platforms and NFT investment opportunities on Web3. One popular platform that was the go-to consideration for most creators and collectors for a long time is Coinbase NFT. With the platform’s NFT Drops being a popular and known space for NFT creators and collectors to connect with, this giant platform has made it big since its launch in the market. 

So what made Coinbase NFT a primary choice for creators and collectors? Coinbase’s NFT drops feature enabled authors to release collections directly on the marketplace rather than through a secondary marketplace like the leading NFT platform OpenSea.

Dune Analytics reports that the total trading volume of Coinbase NFT is 4,454 ether (ETH), or about $7 million. Moreover, OpenSea’s total trading volume for January was 306,645 ETH, or almost $483 million. But is this the end of Coinbase’s NFT Drop platform and its highly opted trading solution? 

The Shutdown Rumors: 

Recently, rumors of Coinbase NFT being shut down have been heard everywhere in the Web3 market. Following these rumors of a shutdown, Coinbase NFT, the non-fungible token (NFT) platform of crypto exchange Coinbase, announced on Wednesday that it is pausing “creator Drops” to focus on other aspects of its marketplace.

Coinbase NFT promptly responded to the rumors, claiming that while it stops drops from working on enhancements, the NFT marketplace will not be closed.

How Will The NFT Marketplace Cope As The Giant Marketplace Pauses?

With existing marketplaces taking a fall and making moves to improve as they halt the platform usage, new marketplaces like Ommniverse that are more advanced and catered to the future of NFT trading are coming to rise. These platforms, primarily designed to adjust to the creator and collector needs more efficiently and simply, are making them more reliable and accessible – especially when NFT creators and investors no longer have access to trade on giant marketplaces due to their limitations. 

What Makes Ommniverse Unique?

By lowering the barriers to entry associated with holding high-priced equities, Ommniverse’s infrastructure enables more people to benefit from the growing digital asset class.

Ommniverse is revolutionizing the NFT market by providing unprecedented access to premium digital materials. The most notable feature of their platform is that it lowers the entry barrier for high-impact investments, allowing more people to benefit from them.

Conclusion: 

With platforms like Ommniverse present to cater to the creator’s and collectors’ demands, usage ease, accessibility, and security, they are a better option to access advanced features and consistent improvement strategies. This makes such emerging marketplaces an ideal marketplace that emphasizes using modern tools and features, improving them alongside as the market demands evolve. 

Additionally, these emerging platforms are developed not only to make their place in the market as per the 2023 demands and challenges, but it is a future-proof NFT marketplace that is only getting started. Stay tuned to learn more. 
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