Coinbase is Giving Away a Bored Ape?!

in LeoFinance • 3 years ago

hello there

Good morning! I hope you are doing well today. The weather is changing and it's starting to cool off in the morning and at night. I really don't like the cold so I'm not ready for winter at all. I'm trying to get out and enjoy it while I can because I already spend way too much time on the computer as you might be able to tell lol. Anyway - I just came across some news and it got me thinking.

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Marketing

I am not the biggest fan of Coinbase honestly. I do use it but not very frequently. Only really when I want to use my CB card for that 4% cash back in crypto on purchases. Aside from that, I have the app on my phone and have next to nothing in it. I much prefer to custody my own coins and have my own keys. Nothing against them, though, they have been doing some awesome shit. Recently they announced the launch of Coinbase NFT which I wrote a post on about a week ago. This got a lot of people excited, myself included even though I am not the biggest fan of NFTs on Ethereum because of the insane gas fees. Still amazing that Coinbase is really pushing NFTs to the mainstream. Who better to do it? 70+ million active users is nothing to scoff at.

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This is some incredible marketing for Coinbase Wallet. Coinbase is giving away a Bord Ape Yacht Club NFT worth easily over 40 ETH. Taking a look at the BAYC Opensea collection, floor price for the collection is at 29 ETH. You can see what I'm saying. This is a fucking valuable NFT. This collection has over 190k ETH in transactions to date. That's a lot of money!

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So why would they give away such an expensive NFT instead of offering an incentive for new users to the Coinbase Wallet app? Well I imagine giving away 1 single NFT even though the value is minimum $100,000, is cheaper than giving each new user X amount of free crypto. On top of that, in terms of marketing, BAYC is a very well known collection on the Ethereum chain and it has gotten a lot of attention. Plus everyone loves feeling like they have a chance at something like the lottery. I'd say winning this would be a jackpot.

Coinbase Wallet + Coinbase NFT

It also got me thinking. As it stand right now, we have the regular Coinbase app and we also have the Coinbase Wallet app. The regular CB app is what you're probably familiar with where you can buy, sell, track crypto, and managed your CB debit card. Then there's the Coinbase Wallet app which is an Ethereum wallet with a DAPP browser comparable to Metamask. I first thought they might integrate NFT into the main app, but now I'm leaning more toward the Coinbase Wallet app getting a revamp with CB NFT built right in. That would make the most sense in my opinion.

What do you think?

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Posted Using LeoFinance Beta

3 years ago in LeoFinance by
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