The hottest event in the encryption circle and even the investment circle recently is the listing of Coinbase. As the largest compliant cryptocurrency exchange in the United States, after nine years of fighting, Coinbase finally landed on Nasdaq. The investment behind it People even gained thousands of times the return on investment, and its market value has also climbed to more than 60 billion US dollars.

On the one hand, it is the boiling of the encryption circle. Coinbase has become the largest IPO in the circle after years of development.

But not long after Coinbase was listed, Alesia Haas, Coinbase's chief financial officer, publicly stated that Coinbase was exploring NFT as a potential new business line. Haas further elaborated that NFT is very suitable for the Coinbase platform, and these tokens can provide the company with new Source of transaction fees.

According to Coinbase's latest financial statement, more than 85% of its revenue comes from customer transaction fees, which means that tuition fees are the company's biggest financial support, as long as there are transactions and markets, they will intervene, but NFT The appeal to Coinbase may not just be financial gain, perhaps an even more interesting story...

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1. Provide support for Coinbase financial report

First of all, we can see a very intuitive reason from the description of Coinbase’s chief financial officer, that is, the development of the NFT trading market can bring optimistic estimates to its financial statements.

Calculated according to the transaction volume of NBA Top Shot, the most popular NFT application at present, in the past 30 days, NBA Top Shot has reached a transaction volume of more than 200 million US dollars in the secondary market, which means that the transaction fee charged by Dapper Labs every year It will reach 120 million US dollars, which is just the transaction volume of one project.

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2. NFT has not yet been regulated by the SEC

Secondly, although NFT is a non-homogeneous token, it seems that it can have a price and is also a token, but in reality, it tends to represent a virtual commodity or the ownership of a certain right, such as game props The same virtual goods or rights like real estate certificates are not considered pure tokens. The U.S. Securities and Exchange Commission (SEC)’s supervision of tokens is mainly to supervise those Security Tokens with dividend properties, because the attributes of these tokens are closer to securities, so this type of tokens should be under the jurisdiction of the SEC.

Obviously, the attributes of NFT do not meet the conditions of Security Token, and they will not be regulated by the SEC. Therefore, it is not surprising that NFT will be favored by the most compliant Coinbase.

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3. NFT may become the beginning of asset digitization

When NFT was popular, people began to pay attention to the deeper logic behind NFT. For example, NFT essentially uses on-chain tokenization to make some digital goods, digital art or copyright more confirmed, but the current hype of NFT is still only In the art market, it is also known as digital painting.

Looking around, the NFT market may actually have a larger market than we imagined, such as the chaining of some offline physical assets, including real estate, securities, insurance, etc. If these assets can be successfully realized as "NFT", Then the expansion market it brings will be another scene.

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1. Bring advantages and disadvantages to the existing NFT market

Through the above analysis, it is not difficult to find that Coinbase’s intention to set foot in the NFT market is by no means a follower, but it is actually the result of in-depth thinking. Transactions in the NFT market bring "regular troops".

After Coinbase goes public, raising the banner of "compliance" is bound to attract more traders who were still hesitant, which will bring a huge user increase to Coinbase. As of this Thursday, Coinbase entered the top 10 of Apple's US App Store (Apple App Store) for the first time, which is the most direct reflection.

With the involvement of Coinbase, NFT will be recognized by a wider market, which will attract more attention to this NFT market, accelerate more developers and capital to participate in the NFT ecology, and make this NFT cake big. At present, the NFT trading market is still relatively small compared to the cryptocurrency market, but since NFT can naturally be combined with physical enterprises, its market growth space will be very large.

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2. Open up a new business format of the exchange, attracting followers

Coinbase was originally a cryptocurrency exchange, but suddenly getting involved in NFT will break the existing pattern. The existing situation is that the cryptocurrency exchange belongs to cryptocurrency, and the NFT trading market belongs to NFT, and the two are not combined. But for Coinbase’s operation, if you think about it, you will find that there is no big problem in combining NFT with cryptocurrency exchanges. NFT itself is more compliant than cryptocurrencies, and cryptocurrency exchanges themselves will have a lot of traffic and funds. The two can be combined to become a new format for exchanges.

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3. Let more traditional capital pay attention to NFT

Today, NFT itself has been out of the circle in the field of encrypted art and collectible games. Traditional companies such as Time Magazine, Gucci, and Playboy have also entered the game. Capital is watching the chemical reaction of this NFT. The next game.

It just so happens that Coinbase, as an exchange, is also getting involved in NFT at this time, which will definitely attract the attention of many investors and investment institutions. Look at Coinbase as the "first encrypted stock". Capital will continue to observe it with curiosity about the impact of the industry.

And such high attention itself is a kind of empowerment. It is conceivable that when Coinbase combines NFT, it will try in various directions. When a certain attempt passes the test of the market and obtains some positive feedback or direct wealth As a result, these onlookers will swarm into the market, lay down their own bargaining chips, and set aside an acre of three-point land in advance to compete for the blue ocean of the new market. And this will further make Coinbase bigger and stronger, and will also boost the further development of NFT, forming a virtuous circle.

It is worth noting that traditional capital in the field of encryption, because of compliance and other issues, the end of the capital often belongs to a small number of capital parties willing to fight on the cusp, and when Coinbase relieves the compliance and other issues for the capital side After worrying about the future, we can foresee that most of the traditional capital will rush to invest, and the waves created may be much larger than the current waves.

Of course, we (NFTMart) will keep a close eye on what kind of attitude Coinbase will enter the NFT market in the end. After all, the "Coinbase effect" may also extend to the business chain, which deserves our attention.