Non-fungible tokens are of great interest to many speculators and enthusiasts. However, it remains somewhat tricky for everyday consumers to purchase NFTs. Mastercard wants to streamline that process through a partnership with various NFT marketplaces.
A New Venture For Mastercard
Making the acquisition of NFTs more accessible can bring much-needed momentum to the industry. It is nearly impossible for everyday users to buy anything without acquiring cryptocurrencies first. Such unnecessary hurdles need to be removed altogether, and Mastercard positions itself as a problem solver. Through partnerships with various non-fungible token marketplaces, people can buy NFTs with payment cards.
The new project spans partnerships with Immutable X, The Sandbox, Mintable, Nifty Gateway, and other ecosystems. Additionally, Mastercard joined forces with Monday to ensure a smooth integration of card payments. It is another example of merging the NFT industry with real-world payments after Mastercard’s collaboration with Coinbase. Users can use debit and credit cards to buy digital assets through Coinbase’s decentralized marketplace.
These will not be the final collaboration in the Web3 space either. Mastercard has filed over a dozen NFT and Metaverse trademark applications to extend payment processing systems, slogans, and branding into the virtual world. Mastercard seems to be ahead of other card issuers like Visa and American Express and is eager to explore the Web3 frontier.
A recent survey conducted by the company confirms over half of respondents purchased an NFT or aimed to do so. one of the reasons holding many people back was the lack of convenient payment methods. Using crypto for everyday purchases or buying NFTs with a credit/debit card remain the most-requested features in the current landscape.