Brian Armstrong, chief executive of crypto exchange Coinbase Global said on 9 November that the company aims to provide a social experience through its planned non-fungible token, or NFT, marketplace, making the platform more akin to Instagram than eBay.

"Traditionally Coinbase is focused on FTs — fungible tokens — and we're equally excited about NFTs," Armstrong said on 9 November during the company's third-quarter earnings call. "I think it could be as big or bigger. We don't know."