Coinbase has launched its Layer 2 network, Base, on top of the Ethereum mainnet. The network is built on Optimism’s OP Stack and will be part of its “Superchain” that’s compatible with other Layer 2 networks. While Base won’t have a token, it will provide a platform for other protocols to build on and will interact with Coinbase’s product suite.
Free NFTs Minted to Mark Testnet Launch
To mark the launch of Base, Coinbase created a free NFT that can be minted for four days on the Ethereum mainnet. Over 28,000 NFTs have been minted so far, with a total of $280,000 spent in transaction fees by crypto fans. The NFTs, which show a blue circle, can be bought and sold on NFT marketplaces such as OpenSea, where they have seen 150 ETH ($247,000) in trading volume.
NFTs with Lower Numbers Selling for More
Each Base NFT has a unique number, and those with lower numbers appear to be selling for more. The highest sale so far was for Base NFT 45, which sold for 1.88 ETH ($3,100). Meanwhile, Optimism also created a free mint for subscribers to its Mirror newsletter, with over 23,000 NFTs minted so far. Since they’re on the Optimism network, transaction fees are significantly lower than on the Ethereum mainnet.
Source: The Block
