Crypto News

Coinbase Launches Metaverse Roadmap and Works on Development of “Identity On-Ramp”

The leading US crypto exchange Coinbase presents its future roadmap for developing Metaversum-related projects.
The exchange aims to develop an “identity driveway” into the metaverse, according to a new blog post from Coinbase CEO Brian Armstrong and Alex Reeve, the company’s identity product manager.

Armstrong and Reeve say the development of the On-Ramp is what drives Coinbase’s work with the Ethereum Name Service (ENS), an open source identity protocol Blockchain-Base.

ENS allows users to use non-fungible tokens (NFTs) to emboss with usernames, with which Ethereum addresses and web domains can be linked, whereby Wallet– Names become much more straightforward.

Armstrong and Reeve say at some point people will tap ENS to wear a unique ID across different virtual worlds across the metaverse. Coinbase listed the ENS governance token last month.

The exchange also has other plans to bolster identity in the Metaverse, according to Coinbase officials.

“We’re also working on technology that will enable you to buy your avatar, define and maintain your public profile, and build trust.

And we’re working on features like logging in with [Ethereum/Coinbase]that could allow users to log into any app in the Metaverse. “

Read Armstrong and Reeve’s full blog post here.
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Source: Crypto News Deutsch

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