Payments Giant Mastercard Expands Network, Allows Users To Purchase NFTs With Credit Cards

Financial services titan Mastercard is now allowing users to directly purchase non-fungible tokens (NFTs) using their credit cards.

According to a new blog post penned by executive vice president of digital asset partnerships Raj Dhamodharan, Mastercard is teaming up with several prominent payment platforms and crypto marketplaces to allow NFT purchases without the need to buy any digital assets.

“We’ve been innovating over the past year to make these improvements happen. As part of this work, we’re happy to announce we’re working to enable NFT commerce with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay.

We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether that’s on one of these companies’ marketplaces or using their crypto services. With 2.9 billion Mastercard cards worldwide, this change could have a big impact on the NFT ecosystem.

Buy the NFTs you want on the marketplace of your choice. No need to buy crypto first.”

This isn’t the first time the payments giant has forayed into the world of NFTs. In January, Mastercard announced a partnership with top US-based crypto exchange platform Coinbase, allowing users to purchase digital collectibles using their credit cards on Coinbase’s NFT marketplace, which launched in May.

“With the help of these companies, Mastercard’s expanding adoption of Web3 – a new version of the internet based on blockchain – adds to our existing work bringing our payment network to Coinbase’s new NFT marketplace, which opened to all Coinbase users in May.

Overall, these integrations are designed to make crypto more accessible and help the NFT ecosystem keep growing, innovating and bringing in more fans.”

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/grafius/Natalia Siiatovskaia