Coinbase marketplace adds NFT Generation Feature using AI

The feature has been named Instamint

18.01.2024 - 10:35

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2 min

What’s new? Crypto exchange Coinbase’s non-fungible token (NFT) marketplace has introduced a feature called Instamint that allows users to generate NFTs using artificial intelligence. Last year, an AI service for generating non-fungible tokens called Bicasso was launched by the Binance exchange.

Source: Twitter.com

What else is known? The community-oriented Coinbase NFT is running in beta mode. The platform facilitates the buying and selling of NFTs and also serves as a place to bring collectors together as they can communicate with each other through comments and subscriptions.

For a limited period, the marketplace is offering fee-free NFT transactions, but users still need to pay for Ethereum gas to cover the cost of recording transactions on the blockchain.

Earlier this month, OpenSea CEO Devin Finzer announced an upgrade to the marketplace’s interface that will introduce token categories by type of use.

In May 2023, the Binance marketplace launched a lending service secured by NFTs for the most popular and expensive collections such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles.

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