SNEAK PEEK
- The NFT marketplace LooksRare is working with the Web3 payment provider MoonPay.
- The MoonPay infrastructure will help transition LooksRare users to Web3 and offer a variety of products to speed up transactions.
- MoonPay has been using methods to process cryptocurrency payments to enable people to sign up for Web3.
The non-fungible token (NFT) market LooksRare and Web3 payments company MoonPay are collaborating to make it simple for traders to buy both cryptocurrencies and NFTs on the platform.
MoonPay will assist in guiding LooksRare users to Web3 and provide a range of goods for faster transactions. Through its “NFT Checkout,” collectors can buy NFTs without first purchasing cryptocurrencies by using a debit or credit card. Additionally, it will enable MoonPay users to buy LOOKS, the native token of the marketplace.
In a news statement, Oliver Jeffcott, senior business development manager at MoonPay, stated that this relationship is another step towards achieving the company’s long-term goal of making MoonPay a platform that improves accessibility and usability for the Web3 community.
MoonPay has been utilizing methods to handle crypto payments to enable users to onboard Web3 since funding $555 million in November 2021. Customers may now easily buy NFTs with a credit card thanks to a partnership between the business and Mastercard that started in June.
LooksRare is a decentralized, community-focused NFT marketplace that operates on the Ethereum mainnet. By generating more than $1 billion in sales volume in just one week after becoming a reality, the platform rose to prominence in January 2022.
It achieved this early success in part by airdropping its native token, LOOKS, to each OpenSea user who had spent more than 3 ETH in the second half of 2021 and by offering users enticing incentives. LooksRare differs from other secondary marketplaces in that traders are paid in LOOKS, and all platform expenses are used to pay stake rewards.
Users of LooksRare will be able to simply buy an NFT using a debit or credit card thanks to the NFT Checkout interface, eliminating the need to first acquire bitcoin. This streamlines the purchasing process and expands the pool of potential customers for the market.
