HomeNFTCoinbase partners with Mastercard to facilitate the purchase of NFTs

Coinbase partners with Mastercard to facilitate the purchase of NFTs

-

Ever more accessible NFTs – As soon as it was announced in October 2021, Coinbase NFT had attracted the interest of more than one million users. Now, the platform specializing in non-fungible tokens (NFT) wants to make it easier to buy them with Mastercard bank cards.

buying an NFT today is often a multi-step process that includes opening a crypto wallet, purchasing crypto, and then using it to buy an NFT on an online marketplace. This is the norm for cryptocurrency enthusiasts, but newcomers to the community might find it a bit complicated, which is why Mastercard will allow customers to make purchases on Coinbase’s upcoming NFT marketplace using their Mastercard cards.

Coinbase

 “Coinbase sees its NFT marketplace as doing the same thing for NFTs. We want to do the same for NFTs with Mastercard by solving the pain points – to make it as easy as possible to purchase an NFT and ensure it’s the best experience for the consumer.”

 

Mastercard 

“We strive to make NFTs more accessible because we believe that technology should be inclusive. Including more people in new technologies drives innovation, promotes economic growth and expands consumer choice.”

The exchange has announced plans to open a peer-to-peer NFT marketplace in October. As it did with cryptocurrency, Coinbase wants to help make NFTs easier to mint, buy, present and discover. The company said the initial launch would support Ethereum-based ERC-721 and ERC-1155 with multi-chain support expected soon after.

Reducing friction in the marketplace is a surefire way to attract more consumer interest. There are undoubtedly millions of people interested in the budding NFT space who have yet to jump on the bandwagon simply because the process has not yet been streamlined enough. Being able to purchase digital goods with a Mastercard will certainly lower the barrier.

Raj Dhamodharan of Mastercard echoed these sentiments, noting that they are working to make NFTs more accessible because they believe technology should be inclusive. “When more people are included in new technologies, it drives innovation, helps economies grow and expands choices for consumers,” Dhamodharan added.

NFTs had a banner year in 2021, with consumers spending nearly $27 billion on digital goods before the vacations. That number undoubtedly increased as some gifted NFTs were given to friends and family…

Leave a Reply

LATEST POSTS

NFT rarity ranking protocol is revised by OpenSea in response to community comments.

A community member suggested that the market-driven rarity structure for particular NFT collections is destroyed by the new rarity ranking algorithm. While assigning nonfungible tokens (NFTs)...

Are museums going to just be huge NFT galleries in the future?

There are concerns regarding the ownership structure at museums in the wake of the tokenization of entire collections. Nonfungible Tokens (NFTs) have been employed by museums,...

A collapse of NFTs on Polygon ?

Ethereum seems to be surpassed by Polygon in the NFT market. But thanks in large part to the success of Solana and the challenging market...

OpenSea bans certain NFTs from its platform.

The long-awaited Ethereum blockchain merger will probably happen within the next three weeks. The Ether community is hoping that this occasion will enable a greater...

Follow us

0FansLike
3,691FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img
%d bloggers like this: