By Update: Using this technique they grew their waitlist to over 1 million in 24 hours
One of the biggest names in cryptocurrency is hoping to become one of the biggest names in the burgeoning field of NFTs, that is artwork on the blockchain. Coinbase announced they are launching their own NFT platform later this year on their blog yesterday.
Of course this is big news for anyone in Crypto Art or using Crypto Art for Marketing purposes, and it is a good move by Coinbase since they are closely aligned to the crypto world already.
However, what was most interesting to me is the mechanism Coinbase has chosen to help spread the word about their NFT platform. When a user signs up to be on the waitlist for the NFT Platform they are assigned a number in line, mine is currently 356,905. That means 356,000+ other people will get a chance to join the platform before me. If I was interested in buying art early or getting my works listed before the platform gets congested, then I would probably want to be much higher up on this list.
Artists, marketers, and investors who really want to move up the list can invite their friends using a special link provided by Coinbase. The more of your friends accept the invite to join the waitlist using our link, the higher up on the waitlist you move. Coinbase doesn’t specify how much higher each signup takes you, so there’s a chance you move up only one spot or they could move users up over all of the others who haven’t referred anyone at all making the jumps much higher for those who refer even a handful of new users to the waitlist.
Not that you should use my link to sign up, but here it is just in case: https://coinbase.com/nft/announce/1PWF8C
For brands and marketers out there, since Coinbase has such a large userbase already there’s a chance that moving up the waitlist could score you some brand recognition points if you were able to get up towards the top and place a branded NFT for sale while others join the platform.