Coinbase’s new browser could be the answer to mass blockchain adoption

In May 2022, CoinbaseCOIN
launched its Non-Fungible Token product, which allows experienced web3 users to buy, sell and transfer their NFTs. But it was almost dead on arrival with incredibly low usage and a market of early adopters who cared more about their privacy than ease of use. These early adopters were confused as to why they would switch to another platform, especially one that required them to go through KYC (a process of providing identification as well as other legal information).

This flop was because Coinbase was trying to capture a new demographic, one that stands for everything they are not. Decentralized, Anonymous, Self-service.

Coinbase’s current success is rooted in its easy-to-use crypto trading product that has engaged millions of people on web3 (the blockchain-connected internet).

Now, finally, Coinbase has shifted towards building on what it has and adding a browser to its mobile application.

If coinbase is your only window into crypto and you’ve been strictly buying and selling different coins, this feature might seem out of place. But it’s actually a big deal. A web3 browser in Coinbase is their path towards allowing true mass adoption of blockchain technology. To interact with the many blockchain-enabled websites and applications (collectively “web3”), you need a wallet application, such as Metamask, that has your crypto in it. Some web3 sites may also require you to own collectibles or art to access them, NFTs.

Until a few days ago this meant buying Bitcoin/Ethereum/Doge/etc in Coinbase, transferring it to your Metamask and then using Metamask to access a web3 site. Much work! Now with one of the best crypto offerings, and a way to connect, trade and interact with the rest of the blockchain-powered web, Coinbase is poised to start what could be another leap forward in blockchain technical development. Their new browser enables companies and developers to create products powered by this new technology that can be used by a much wider audience.

What we have yet to see is how brands, partnerships and Coinbase’s own strategies will make this a success. Currently, the browser defaults to some of the most popular web3 apps/sites, but do your users want to know what to do with them?