Coinbase Launches Onchain Summer to Boost NFT Trading Volume
Coinbase has launched Onchain Summer, a multi-week series of Web3 activations across art, gaming, and music, to celebrate the launch of its native Base network. The event aims to bolster the trading volume of non-fungible tokens (NFTs) and showcase their potential as a technology. Over 50 brands, including Coca-Cola and Friends With Benefits, will host NFT mints on the Base network. Coinbase is also collaborating with Prop House to give out over 100 ETH in grants for developers building on Base. Additionally, they are encouraging users to bridge their ether to Base in order to mint a free NFT. So far, over 125,000 individuals have minted over 30 million free NFTs. Onchain Summer’s first week will feature daily mints from various artists and creators.
Key Points:
– Coinbase’s Onchain Summer is a series of Web3 activations across art, gaming, and music.
– The event aims to boost the trading volume of NFTs and showcase their potential as a technology.
– Over 50 brands, including Coca-Cola and Friends With Benefits, will host NFT mints on the Base network.
– Coinbase is collaborating with Prop House to give out over 100 ETH in grants for developers building on Base.
– Users are encouraged to bridge their ether to Base to mint a free NFT to commemorate the launch.
Hot Take:
Onchain Summer is an innovative initiative by Coinbase to revitalize the NFT market and demonstrate the broader applications of this technology. By collaborating with renowned brands and offering grants to developers, Coinbase is creating incentives for increased community engagement with the Base network. The free NFT minting promotion is also a clever way to onboard more users to the platform. Overall, Onchain Summer has the potential to reignite interest in NFTs and drive adoption of Web3 projects.
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