Coinbase NFT Integration: View Your Collection in Browser Wallet

Coinbase Wallet Expands Functionality with NFT Support and Network Integration

Coinbase, primarily recognized for its cryptocurrency exchange services, has been actively developing self-custody wallet solutions under the Coinbase Wallet brand. These wallets empower users with complete control over their digital assets, as the private keys are securely stored directly on their devices.

Desktop Browser Access to NFTs

A new feature is being introduced, bringing Non-Fungible Token (NFT) viewing capabilities to the desktop browser version of Coinbase Wallet. Users accessing Coinbase Wallet through desktop browsers will soon find a dedicated “NFTs” tab. This will provide direct access to the NFTs linked to their wallet address.

While numerous mobile wallets, including Rainbow, Argent, and the mobile version of Coinbase Wallet, already offer NFT collection viewing, browser extensions often lack this integrated functionality. The rollout of this feature is anticipated within the next few days.

Enhanced Support for Multiple Networks

Beyond NFTs, Coinbase is improving its support for testnets and alternative blockchain networks. Users can already switch between networks via the settings menu. Now, Coinbase Wallet will display token balances across all supported networks, encompassing Arbitrum, Avalanche, Binance Smart Chain, Fantom, Optimism, Polygon, and xdai.

This provides a consolidated view of a user’s crypto holdings, functioning as a unified inbox for their digital assets.

Implementation of EIP-3085

Coinbase Wallet will also incorporate support for EIP-3085 – an Ethereum Improvement Proposal. When a Coinbase Wallet interacts with a decentralized application (dApp) that also supports EIP-3085, the user experience will be streamlined and improved.

Essentially, EIP-3085 enables dApp developers to suggest a specific network for transaction execution, simplifying interactions across multiple blockchains.

Self-Custody and dApp Connectivity

A key benefit of utilizing a self-custody wallet is the freedom it provides, unconstrained by the limitations of the application itself. Users can connect to third-party dApps using protocols like WalletLink and WalletConnect.

Coinbase has also directly integrated decentralized exchanges (DEXs) within the Coinbase Wallet interface. Notably, Coinbase leverages Uniswap and 0x to facilitate these trades, applying a 1% fee to transactions conducted through its native DEX feature.

Coinbase’s Web3 Strategy

Coinbase Wallet represents a significant component of Coinbase’s broader web3 initiative. The company aims to maintain its relevance as cryptocurrency users become increasingly knowledgeable and engage with a wider range of dApps.

MetaMask has historically been a popular choice for newcomers to the crypto space, particularly those purchasing their first NFT. However, users often point out areas where MetaMask’s functionality could be improved. Coinbase is actively working to address these concerns and is not remaining stagnant.

The company has acquired the crypto wallet startup BRD and is planning the launch of its own dedicated NFT marketplace.

Disclaimer: The author holds small positions in various cryptocurrencies.