Coinbase focuses on digital wallets, NFTs, and more to boost crypto and Web3 adoption

The leading cryptocurrency exchange in the United States, Coinbase, reportedly focuses on boosting the adoption of crypto assets and Web3 technologies.

To “serve as the bridge” to Web3 for its clients, the world’s second-largest digital asset exchange recently wrote on its official blog. This was accomplished by “supercharging” the fundamental building blocks.

As malicious actors have lately begun airdropping tokens into user wallets in a bid to lure users to websites that would undermine their security, Coinbase says it will first concentrate on enhancing the protection of its proprietary crypto wallet.

“Recently, we launched the DApp blocklist and spam token management features for the Coinbase Wallet… The Coinbase Wallet conceals known harmful assets from your home screen and allows you to report questionable tokens that appear in your wallet.

As a method of promoting crypto usage, the crypto exchange giant will next concentrate on non-fungible tokens (NFTs). This blog post reveals Coinbase’s intentions to improve users’ access to NFT markets and development resources.

“Coinbase’s aim is to take care of all Web3 tools so that developers may concentrate on what they do best: developing community. You may also visit every major NFT marketplace inside the app’s browser and see deals immediately on your NFTs.”

Coinbase claims it is also employing its cloud services to aid in the development of Web3 infrastructure.

More people will be able to enjoy the economic freedom that Web3 gives if we can make it simple for developers to create decentralized apps, great experiences, games, and social networks on Web3.

“The purpose of Coinbase Cloud is to assist Web3 developers in creating a safer, more decentralized internet.”

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.