How To Create Your First NFT On Coinbase | Tokenfy

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Coinbase is one of the most famous cryptocurrency marketplaces on the Internet. Boasting over 89 million users, the site provides crypto purchases with fiat and an easy-to-use mobile app to attract millions of new people into crypto.

Now that it’s recently launched an NFT marketplace, digital creators are eyeing it as an alternative to established players like OpenSea and Rarible. Read on for a complete guide on how to create and sell NFTs on Coinbase’s long-awaited NFT marketplace!

NFT Creator Resources

If you plan on making NFTs on other platforms besides Coinbase, check out the guides below!

Why Should You Consider Creating an NFT On Coinbase 

From OpenSea, Rarible, SuperRare, and many other marketplaces, there are a lot of NFT exchanges to choose from. What does Coinbase offer to its users? Here’s a quick overview:

Wide Crypto Wallet Support

You don’t have to have a Coinbase wallet to be able to create and trade NFTs on Coinbase NFT. While a Coinbase wallet will work perfectly with the platform, so will other wallets like MetaMask and Electrum. This way, you don’t have to switch to another wallet and move your tokens there just so you can create NFTs on Coinbase. 

No Account Needed

Whereas most NFT exchanges require you to make an account, Coinbase NFT doesn’t. All you need to do is connect your wallet to the site and you’re good to go! This saves you some time and helps you create and trade digital collectibles faster.

Zero Fees And Gasless Minting

Coinbase NFT is also one of the few NFT marketplaces that boast zero marketplace and gas fees. This means you can mint and list NFTs for free. If you’re just beginning your NFT journey, this makes Coinbase NFT a risk-free and cheap alternative to other marketplaces. 

Large Audience

Coinbase boasts a user base of 89 million people. While not all of them are Coinbase NFT users, you’re still likely to attract the attention of a good portion of 89 million people. With this built-in audience, you’re bound to get eyes on your work sooner rather than later.

Big Name NFTs Being Sold

Despite its status as a new player in the NFT exchange game, Coinbase NFT already has some high-profile sellers on its marketplace thanks to its history as a crypto exchange. You can see Bored Ape Yacht Club and CryptoPunks among its offerings, along with other digital assets from various creators. 

NFT Influencer Feeds

One of the things that make Coinbase NFT Marketplace unique is its social features. You can create a profile to follow fellow collectors, chat with them, and even comment on NFT listings. Moreover, Coinbase also boasts feeds from NFT influencers like Gary Vaynerchuk and Dillon Francis. 

Advantages Of Coinbase 

Being a new player in the NFT exchange market means that Coinbase NFT needs to do some things to set it apart from the rest. Fortunately, Coinbase is proving to be a capable contender that offers many benefits like:

  • Support for multiple crypto wallets
  • Zero-fee NFT minting and listing
  • A user base of over 89 million
  • Collaborations and connections with major NFT influencers
  • NFT feed curation features

Disadvantages Of Coinbase 

However, there are also some caveats you need to be aware of before starting your NFT journey with Coinbase. Some of these disadvantages include:

  • You need to become a verified creator first before minting NFTs on Coinbase NFT
  • The marketplace still lacks basic filters like artwork category, artist, and file format
  • Coinbase NFT only accepts payment in ETH, with fiat payments coming in the future
  • Coinbase NFT is still relatively new, so not everything will be well-optimized

How To Sign Up For The Coinbase NFT Marketplace 

Signing up for a Coinbase NFT account is easy. All you need to do is:

  • Get a crypto wallet – Coinbase is the marketplace’s native wallet, but any wallet like MetaMask or Ledger works just fine
  • Connect your wallet to the marketplace with the instructions listed
  • Once your wallet is connected, fill out your profile information like your username and bio
  • You can now buy and sell on Coinbase NFT Marketplace!

While the steps to sign up for the marketplace are easy, signing up to be an NFT creator on the marketplace is less so. At the time of this writing, Coinbase NFT only allows verified and selected creators to mint NFTs. If you’re not on the list, you may need to wait until Coinbase NFT exits beta or opens public NFT minting in the future. 

How To Create an NFT On Coinbase 

It’s not yet possible for the general public to mint NFTs on Coinbase since it’s still in the beta version. However, it’s never a bad idea to prepare. That’s why we’ve prepared this guide on how to create and sell your NFTs on Coinbase NFT Marketplace! 

Creating And/Or Selecting The Art

The first thing you need to have before minting an NFT is an art piece. If you already have one, make sure to save it in a place that you can easily access later. If you don’t have one yet, it’s time to start creating! Use whatever tools and software at your disposal to create the NFT art you’ve always wanted.

Coinbase Wallet

While the Coinbase NFT Marketplace accepts various cryptocurrency wallets, we’ll use Coinbase Wallet as our main reference since it’s the marketplace’s native wallet. The steps to get a Coinbase wallet are as follows:

  1. Download the Coinbase Wallet app
  2. Read through and accept the app’s terms of service
  3. Create your username
  4. Set up your security method – you can choose between biometrics or passwords
  5. Write down your recovery phrase, preferably on paper and kept somewhere safe
  6. Verify your recovery phrase, and now you can use Coinbase Wallet!

Marketplace (0% Coinbase Fees)

Once you have the Coinbase Wallet set up, it’s a simple matter to connect your cryptocurrency wallet to the marketplace. Fill in your username and other key details and then you’re free to browse the marketplace!

Minting And Selling Your NFT

As mentioned above, the Coinbase NFT Marketplace isn’t open to the public yet. This means we don’t have the exact instructions on how to mint and sell NFTs on the platform. However, here are the general steps to mint and sell NFTs in many marketplaces:

  1. Upload your NFT files through the marketplace’s minting page
  2. Fill in key details like your work’s title and description
  3. Set its price and sale method – most marketplaces offer fixed-price sales and auctions
  4. Add a royalty percentage
  5. Pay the gas fee, if applicable (Coinbase NFT Marketplace offers zero fees at the moment)
  6. Your NFT is now listed on the marketplace!

How To Buy/Sell On The Coinbase NFT Marketplace 

If you’re an NFT collector, then you may be interested in buying some of the artwork displayed in the marketplace. Here’s a quick guide on how to buy NFTs on the marketplace:

  • Prepare your Coinbase NFT account by connecting your cryptocurrency wallet with the marketplace
  • Load your wallet with some cryptocurrency to pay for the artwork and gas fees – Coinbase primarily uses ETH
  • Start browsing for artwork that catches your eye
  • Choose the artwork you want and either participate in the auction or click “buy now”
  • Pay for your new artwork along with its gas fees

If you’re planning to sell an NFT piece, follow these instructions:

  • Choose the NFT you want to sell
  • Click the “list for sale button”
  • Input its sale price in ETH
  • Confirm its price
  • Fill in some extra details, and your NFT is now listed for sale!

Note that at the time of this writing, Coinbase NFT Marketplace users are only allowed to sell NFTs at a fixed price. 

Key Takeaways 

While it may lack some features and access for NFT creators is still very limited, Coinbase NFT Marketplace is shaping up to be another major player in the NFT space. 

If you’re looking to get ahead and become a successful creator on Coinbase, Tokenfy has you covered. Check out our services to see how our NFT launchpad platform can help supercharge your NFT project! 

Creating an NFT On Coinbase FAQs 

Find answers to common questions about Coinbase NFT right here!

How do I create an NFT account?

To create an NFT account on Coinbase, all you need to do is connect your crypto wallet to the marketplace. From there, you can set a username and fill out your profile. 

Does Coinbase have an NFT wallet?

Coinbase offers an NFT wallet named Coinbase Wallet. It’s free to download as a mobile app or an in-browser extension. 

How do I add an NFT to my Coinbase Wallet?

You add NFTs to your Coinbase Wallet by purchasing NFTs from marketplaces. It doesn’t have to be from Coinbase NFT Marketplace – you can buy from other places like OpenSea and Rarible.

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