On February 23, the cryptocurrency exchange Coinbase stated that it would not withdraw from its NFT project. After releasing the new quarterly earnings report, Coinbase answered a series of questions about the company’s health in its latest earnings call with investors and analysts. Questions, including how much money the Coinbase NFT platform has lost, whether there is a plan to reduce losses, and Coinbase NFT market share.
According to data from Dune Analytics, there were only 41 transactions in the Coinbase NFT market in the past week. Coinbase President and Chief Operating Officer Emilie Choi did not disclose any specific project loss figures, but said that the company will continue to regard Coinbase NFT as a valuable project and Explore medium and long-term opportunities, but she admits that Coinbase is now investing less resources in NFT projects than in the past, “but will not admit defeat in any way, the Coinbase NFT team has begun to realign resources.”
