Latest Base, Introduced News
Coinbase NFT shared a plethora of tools for creators and its Creator's Hub in its most recent tweet.
❗Why It Matters
The Creator Hub is designed to simplifiy the process of launching an NFT collection and building a web3 community. The announcement is slightly ironic given the backlash Coinbase received for the pause it instituted on its Creators Drop's feature earlier this year. Neverthless, the company continues to roll out new features and products (see also WaaS and Base) designed to onboard more individuals to crypto and web3.
The Deets
The Creator's Hub makes it easier to:
- Launch an NFT collection in three-steps.
- Create a Discord bot to track sales.
- Embed an NFT collection on a personal website
- and more...
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Two weeks after announcing Base, Coinbase's Ethereum L2, the major crypto exchange is back with another announcement today, this time focused on onboarding new users to web3 with its "Wallet as a Service."
🔎 The Deets
- "Wallet as a Service" is described as "a scalable and secure set of wallet infrastructure APIs, enabling companies to create and deploy fully customizable onchain wallets."
- Through this new service, users can manage their wallets using username/password authentication, eliminating the need for dealing with seed phrases.
- These wallets will benefit from multi-party computation (MPC) for added security. MPC securely divides, encrypts and distributes keys among multiple parties.
- Companies including Floor, Moonray.game, thirdweb and Tokenproof are listed as early adopters of "Wallet as a Service."
🎤 Community Feedback
🕳️ Go Deeper
Coinbase's free mint 'Base, Introduced" had its metadata updated today to pay homage to @jackbutcher and his Checks. Separately, an announcement was made that Chainlink is now available for developers building on Base.
❗ Why It Matters
It speaks volumes about Jack's growing sphere of influence that his Checks were featured today on the artwork of 'Base, Introduced', an NFT that's been minted nearly 420,000 times at the time of writing. Base had announced a few days ago that it would evolve the artwork on the 'Base, Introduced' NFT every day at 12 P.M. ET until March 6th.
The other bit of news from Base today was on the technical side, regarding Chainlink Price Feeds going live on Base testnet. Base describes itself as "an Ethereum layer 2 blockchain that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps." So this move - which allows developers to create smart contracts that react to external information at a subsidized cost - reinforces Base's positioning as a low-cost, secure platform for developers to build scalable dapps on.
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- Base to "Introduce" New Artwork
- Morning Minute | Coinbase's Hidden Secret
- Major Coinbase News, But Not About Blue Dot NFTs
Base, Coinbase's Ethereum L2 venture, announced it will be "evolving the artwork" displayed on its Base, Introduced NFTs every day for the next week in a Tweet this morning.
❗ Why It Matters
The tweet further states Base's vision is to "bring 1B+ people onchain," and for many, the Base, Introduced NFT will be an introduction to the L2.
🔍 Need to Know
- The theme of the upcoming artworks will be "the story of the builders" who will help achieve Base's mission of onboarding 1B users.
- The first "evolution", or metadata update, will happen today at 12:00 PM ET. The artwork will be updated each day at the same time through March 6.
- So far, 381,046 Base, Introduced NFTs have been minted. The minting window will remain open for another five days.
⚡ Take Action
If you have not yet minted your free* (plus a small service fee from Zora) Base NFT, you can do so here.
🕳️Go Deeper
After teasing a major announcement throughout the day yesterday, Coinbase debuted Base, a "new Ethereum L2, incubated by Coinbase and built on the open-source OP stack" this morning.
❗Why It Matters
Coinbase hopes to attract millions of new crypto users in the coming years by providing a "secure, low-cost, developer-friendly way for anyone, anywhere to build decentralized apps or 'dapps' onchain," according to Coinbase's VP of Engineering, Will Robinson.
🔎 The Details
- Coinbase makes it very clear that there are "no plans to issue a new token," and this note even appears in the description of Base's new Twitter account as regulatory scrutiny around issued tokens has increased in recent months.
- Through Base, Coinbase will allow developers to "directly integrate their product and provide fiat onramps," making it easy for builders in the space to onboard non-crypto native users.
- Coinbase also announced a Base Ecosystem Fund, which is setup to invest in early-stage projects building on Base.
- To commemorate the occasion, Coinbase is allowing anyone to mint a free, celebratory NFT on Zora through Sunday at midnight ET.
🧿 What About The Blue Dot NFT?
Notably absent from today's announcement was information about the mysterious blue dot NFT that prompted widespread speculation last night. Coinbase and its associates had included the blue dot icon in various social media posts throughout the day, and Coinbase employee Jesse Pollak tweeted a link to a blue dot NFT on OpenSea yesterday afternoon. There is no available information about the collection, and internet sleuths discovered that many of them had been issued to Coinbase employees.
Despite the lack of clarity, there have been several large, speculative purchases made in the collection, including a top sale of 5.99 ETH yesterday evening. Unfortunately, these buyers will have to wait a little longer to find out exactly what it is they have purchased.
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