Wrapped ETH is a form of ETH that is wrapped in a smart contract in order to make it function like an ERC-20 token and become compatible with DApps on the Ethereum blockchain. 1 WETH and 1 ETH are equal in value.

Coinbase NFT accepts ETH for one time NFT purchases and WETH for auctions. WETH is used in auctions to bypass the gas fee when you place a bid.