Coinbase CEO says NFTs could be ‘big or bigger’ than crypto trading

Coinbase Global Co-Founder Brian Armstrong says the market for non-fungible tokens (NFTs) could rival or even be larger than the company’s cryptocurrency business. That was a bold statement from Coinbase’s chief executive officer, made on a conference call on Tuesday after the largest US digital-asset exchange reported third-quarter revenue of around $1.3 billion. The declaration helped to ease concern that revenue was below forecast even after a more than fivefold increase from a year earlier.

Coinbase plans to open its own NFT marketplace, where people will be able to trade digital art and other items, in the next quarter or two.