Can Bill Murray Save Coinbase NFT?
There hasn't been a lot of good news for Coinbase's (NASDAQ: COIN) non-fungible token platform, Coinbase NFT, lately. Non-fungible tokens (NFTs)are the digital assets on a blockchain that are often represented by images; examples include the Bored Ape Yacht Club or CryptoPunks. According to Dune Analytics, Coinbase, one of the leading crypto exchanges, has sold just $2.95 million of NFTs on its platform since launching on April 20. That's a paltry sum compared to the $6 billion traded on OpenSea, the industry's leading NFT marketplace.
To make matters worse, NFT trading volume is down about 75% in dollar terms for NFTs on the Ethereum blockchain since mid-April. If NFTs are in decline and Coinbase can't take share, what would you do? How about make a call to actor Bill Murray and culture and image website theCHIVE?
Today, Bill Murray will release, or drop, 1,000 NFTs in a collection created with theCHIVE and branding agency Project Venkman. There are 100 story NFTs, each with 10 color modifications of each image that make up the collection. The drop will be auctioned off with one real-life painting and promises "once-in-a-lifetime experiences with the man, the myth, the legend."
Source Fool.com
