The NFT marketplace landscape is heating up with Coinbase and FTX announcing NFT platforms and trading.
Centralized exchanges in general will have some key advantages and some disadvantages as they seek to become dominant NFT exchange venues.
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Centralized exchanges in general will have some key advantages and some disadvantages as they seek to become dominant NFT exchange venues.
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Competitive advantages for Coinbase / FTX offering NFTs:
1. Custody for normies
2. High-value NFT Custody – Coinbase stores assets, but people can still bid on your NFT
3. Brand & distribution/audience
4. Partnerships – obtain IP rights
1. Custody for normies
2. High-value NFT Custody – Coinbase stores assets, but people can still bid on your NFT
3. Brand & distribution/audience
4. Partnerships – obtain IP rights
Potential Disadvantages:
1. Regulation - many NFTs will resemble securities
2. Asset breadth & speed - Coinbase has to integrate a lot of assets and might take more time to add assets
3. Integrations – more permissionless marketplaces will likely integrate faster over time
1. Regulation - many NFTs will resemble securities
2. Asset breadth & speed - Coinbase has to integrate a lot of assets and might take more time to add assets
3. Integrations – more permissionless marketplaces will likely integrate faster over time
Ultimately, Coinbase and FTX have the potential to build robust NFT exchanges with unique value propositions.
Importantly, NFT exchanges like Coinbase, OpenSea, Rarible, NFTX, or otherwise are competing for liquidity across different blockchains and a variety of assets.
Importantly, NFT exchanges like Coinbase, OpenSea, Rarible, NFTX, or otherwise are competing for liquidity across different blockchains and a variety of assets.
The marketplace landscape is growing to include more centralized exchanges, protocols (e.g. NFTX), and other protocols that provide liquidity for NFTS. 
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