Here’s How Coinbase Is Planning To Join The Metaverse

As everyone from Meta ( (MVRS) – Get Meta Report) and Roblox ( (RBLX) – Get Roblox Corp. Class A Report) to Nike ( (NKE) – Get NIKE, Inc. Class B Report) expand into the metaverse, the latest company to lay out a plan for doing so is Coinbase ( (COIN) ).

Built through a combination of virtual reality, augmented reality and video, the metaverse is a broad word referring to an online world that is currently popular with streamers and gamers but is increasingly being adapted by the broader public.

In a Medium blog post published on Thursday, the cryptocurrency platform’s CEO Brian Armstrong and Identity Product Lead Alex Reeve wrote that Coinbase is planning to launch username-based NFTs.

They will then connect to individual wallets and allow users to do everything from interact with other users to make payments with cryptocurrency in the metaverse.

“We know that the Metaverse will exist, and we know it will be a series of interconnected virtual worlds,” Armstrong and Reeve write in the post. “Our goal is to make it easy for anyone to establish their identity and gain access to those worlds in a way that’s simple, trusted and decentralized.”