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Coinbase continues to diversify its offerings with news of new product offerings. In the recent announcement, Coinbase announced it is making upgrades to its self-custody wallet to include support for non-fungible tokens (NFTs).

The wallet upgrade will be done on the Coinbase wallet extension, which could boost the adoption of this platform.

In an announcement issued on Tuesday, Coinbase Wallet noted that it would soon roll out support for NFTs. This will boost the ability of a user to view their NFT collections. Moreover, users will also access the leading NFT marketplaces such as OpenSea.

The feature is yet to be rolled out on the platform, and Coinbase did not mention the exact date that this would happen. However, the exchange noted that users who want to use the feature have to use the latest version of the wallet extension.

The Coinbase Wallet contains a DEX integration feature that allows users to convert their holdings directly from several decentralized exchanges. Additionally, the company noted it would unveil a new wallet browser extension to allow users to access various digital assets on the top DEX platforms.

In 2022, Coinbase has many things planned to expand its offerings in the digital asset sector. The exchange is planning to expand its support for NFTs and launch a special DEX feature that is more accessible and affordable.

The NFT sector has recorded much growth this year, but the hype has cooled off in recent months. August was the peak month for the NFT sector, with sales surpassing $1.6 billion. As the year ends, the NFT sector is expected to report sales of around $17.7 billion by 2021.

Coinbase recently unveiled a waitlist for its NFT marketplace, which has since attracted the attention of millions of users in the market. Coinbase is currently the second-largest cryptocurrency exchange platform globally in terms of trading volumes, according to CoinMarketCap.

The largest exchange platform by trading volumes, Binance, is already running an NFT marketplace. In October, the platform announced the support of multi-chain withdrawals and NFT deposits. Binance’s NFT efforts have seen the exchange generate a new revenue stream extra of the trading fees.

The post Coinbase Wallet to launch NFTs in its browser extension appeared first on Invezz.

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