Coinbase Plans To Add 2,000 Employees This Year Due To 'Enormous Product Opportunities' In Web 3.0

Benzinga2022-02-15

Cryptocurrency exchange Coinbase Global Inc. plans to add about 2,000 employees this year as it sees “enormous product opportunities” ahead for the future of Web 3.0 technologies.

What Happened:Coinbase— which enables its users to trade in several cryptocurrencies including Bitcoin, Ethereum and Dogecoin — plans to hire more workers across its product, engineering and design teams, Coinbase Chief People Officer L. J. Brock said in a blog post.

The company is expanding to include products that host user-generated content like non fungible tokens(NFTs) and also has “ambitious plans” for the Coinbase Wallet.

Why It Matters:Web 3.0 is supposed to be a decentralized version of the internet that would challenge the dominance of tech giants such as Microsoft Corp.,Alphabet Inc.’s and Amazon.com Inc..

Current Web 3.0 trends include NFTs and the Metaverse.

Coinbase has over two million people signed up for its highly anticipated NFT marketplace, it was reported last week.

The launch of the NFT marketplace would enable Coinbase to diversify itself from cryptocurrency-related revenue and enjoy commissions from the buying and selling of NFTs.

Price Action:Coinbase shares closed almost 0.4% higher in Monday’s regular trading session at $195.25 and further rose almost 0.5% in the after-hours session to $196.12.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Tanyl
2022-02-15
Tanyl
Coinbase sure will rise soon
CWen
2022-02-15
CWen
good
OddEyeCircle
2022-02-15
OddEyeCircle
Colin and I will be able
Sunris3
2022-02-15
Sunris3
k
teslaudi
2022-02-15
teslaudi
nice
clingling
2022-02-15
clingling
Wah

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