Top US crypto exchange COINBASE is laying out its future roadmap for developing metaverse-related projects.
The exchange aims to develop an “identity on-ramp” into the metaverse, according to a new blog post from Coinbase chief executive Brian Armstrong and Alex Reeve, the company’s identity product lead.
Armstrong and Reeve say the on-ramp’s development is driving Coinbase’s work with the Ethereum Name Service (ENS), an open-source, blockchain-based identity protocol.
ENS allows people to mint username non-fungible tokens (NFTs) that can be linked to Ethereum addresses and web domains, enabling wallet names to become significantly less complicated.
Armstrong and Reeve say people will eventually tap ENS in order to carry a unique ID across different virtual worlds throughout the metaverse. Coinbase listed the ENS governance token last month.
The exchange also has other plans to help shore up identity in the metaverse, according to the Coinbase officials.
“We’re also working on technology that will allow you to purchase your avatar, define and maintain your public profile, and establish trust.
And we’re working on features like Sign in with [Ethereum/Coinbase], which could allow users to sign into every app in the Metaverse.”
Read Armstrong and Reeve’s full blog post here.
