The Queen Piece-Aktien (WKN: A2QP7J) Too far from new records. With a share price of 136 euros and a record high of over 300 euros, we note two things: record times are a long way off, and this share is one of the growth stocks that are in no demand at the moment. Of course, sooner or later the mood can change.
In any case, Coinbase stake management continues to operate operationally on its own growth story. Some kind of society should help at least now to get back on the right track. Could that work? Let’s take a look at the important news.
Coinbase Stock: It’s About This Community!
As Yahoo Finance reported midweek, Coinbase management has finally launched its NFT platform. It seems initially in a beta version. But virtual asset trading can start now. Maybe too late. Early analysts noted that the NFT hype is now fading a little, but this crypto market is just beginning to develop.
Coinbase management says it’s not just about buying and selling non-fungible tokens. No, but the societal aspect should be at the fore as well. On your trading platform, the goal is to create a base of interested parties who can communicate with each other and strengthen and expand their commitment. What is phrased here very abstractly should refer to more NFT services. This means that this trading venue is also typically designed for quality as well as robust trading.
In general, this is the approach of this crypto exchange provider. Coinbase itself also features value-added services and additional offers. So the societal aspect is part of the investment thesis. And for good reason: Management seems to have understood that value-added services are not only partially related to higher margins. No, but the brand and adherence to the company’s platform must also be constantly promoted.
Neither the NFT platform nor the ecosystem and community aspects make Coinbase stock an obvious buy. Admittedly, the stock is cheaper. However, it has recently been proven that the trading venues have at least a volatile trading volume and they must confirm that they hold the market share. Despite this, management is working on the ecosystem, which has also drawn criticism that the company is gaining too much overall. Fees are of course another aspect.
But management seems to have mastered one recipe for success: defining the brand and developing a community that eventually becomes an ecosystem. For me, this is a quality feature that I like to rely on in the Coinbase post and in the context of cryptocurrencies.
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Vincent owns shares in Coinbase. Motley Fool owns and recommends shares in Coinbase.