Coinbase NFT Suspends Creator Drops

Coinbase NFT has revealed that it is pausing creator drops to focus on integrating features that creators have been asking for more. It may sound silly, but platforms are looking for key factors that will help the market become more acceptable to users. However, despite the suspension, it claims the market is not closed.

We are optimistic about the future as the platform’s mission remains unchanged and the team continues to build. Interestingly, the announcement has puzzled several individuals within the NFT space. Some wonder why a platform should pause drops just to add functionality. Why not do both at the same time?

Coinbase NFT Appears to be Short on Staff

One common belief is that teams are understaffed. Over the past year, Coinbase has embarked on a massive exodus of staff to cut costs. The areas that were most affected were those that performed poorly, such as Coinbase NFTs.

A spokesperson confirmed the speculation and said: “The Coinbase NFT team has realigned resources to focus on areas that will have the greatest impact on users.”

Among the key figures leaving was Chief Product Officer Surojit Chatterjee, who left Coinbase NFT six months after its launch. The platform hasn’t been as successful as they hoped, and has been able to raise around $7.7 million in total trading volume to date. By contrast, on his leading NFT marketplace, OpenSea, total trading volume over the last 24 hours has surpassed his $11.3 million.

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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.

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