In Brief:
- The crypto currency trading platform, Coinbase, is planning to join Metaverse.
- The firm wants to make it easy for anyone to establish a user’s identity and explore in the metaverse.
- It is also planning to launch username-based NFTs for interactions and transactions in the metaverse.
Following the suit of Meta, Roblox, Coinbase is planning to join Metaverse.
As per its official blog, Coinbase wants to pull all the identities together and create an identity on-ramp into the Metaverse to help the crypto grow in the right way.
The firm wants to make it easy for anyone to establish their identity and gain access to those worlds in a simple, trusted, and decentralised manner.
Thus, Coinbase will work with ENS, which in turn creates a unique username NFT that resolves to a wallet. Subsequently, this will let users carry a unique ID across different worlds in the Metaverse.
Coinbase is also working on a technology that will allow users to purchase an avatar, define and maintain their public profile, and also establish trust.
Another feature that is expected to come out is a Sign-in with Eth or Coinbase, which could allow users to sign into every app in the Metaverse.
Coinbase is also planning to launch username-based NFTs. It will then connect to individual wallets and allow users to interact with other users, make transactions with cryptocurrency in the metaverse.
“We know that the Metaverse will exist, and we know it will be a series of interconnected virtual worlds,” Brian Armstrong, CEO and Cofounder and Alex Reeve, Identity Product Lead wrote in the post. “Our goal is to make it easy for anyone to establish their identity and gain access to those worlds in a way that’s simple, trusted and decentralized.”
On December 13, Nike had also made a grand entry into the world of metaverse. It acquired RTFKT, an innovative virtual shoe brand that creates next-generation collectibles combining culture and gaming.Â
