NFT

What is an NFT, exactly?

Warning: Coinbase will NEVER ask you for your Private Keys or Recovery Phrase. Do not share these with any person or site, or you could lose access to your wallet, or have your digital assets moved out of your wallet by an attacker. 

You only need your Private Keys or Recovery Phrase when you sign into your self-custody wallet for the first time on a new web browser or mobile app. You won't need to enter this information when signing in or completing transactions on any NFT marketplace.

NFTs (or “non-fungible tokens”) are a special kind of crypto asset in which each token is unique — as opposed to “fungible” assets like Bitcoin and dollar bills, which each unit is all worth exactly the same amount, in terms of coin for coin or dollar for dollar. Because every NFT is unique, they can be used to authenticate ownership of digital assets like artworks, recordings, and virtual real estate as just a few examples. 

NFTs on the Ethereum blockchain are created using the most popular token standards: ERC-721 or ERC-1155.

  • ERC-721 is a data standard for creating non fungible tokens. The ERC-721 standard allows creators to issue unique crypto assets like NFTs via smart contracts. 

  • ERC-1155 is the token standard for creating semi-fungible tokens, meaning you can launch both fungible and non-fungible tokens within a single smart contract. ERC-1155 is commonly used for launching in-game NFTs that represent weapons, health packs or skins.

Learn about each of these ERC token standards in our Crypto Glossary.

Learn more about NFTs in Coinbase Learn.

Official Coinbase NFT emails will be sent from @coinbase.com or [email protected]

Coinbase NFT is a peer-to-peer community platform where creators and collectors can come together to discover, display, purchase and create digital assets. The digital art shown on our platform is in the form of NFTs, an acronym for non-fungible token. NFTs represent digital assets that are ‘minted’ with a unique identifying code, similar to a poster or print which displays a number in a limited series. Rather than a physical printed poster, NFTs are digital and coded on the ethereum blockchain.  NFTs can come in the form of photos, illustrations, audio recordings, short and feature-length films, and even regenerative art. 

Note: At launch, Coinbase will only support file types in the form of digital illustrations, photos, and videos. At a later date, we plan to support more file types, such as audio and more.

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