SNEAK PEEK
- Magic Eden has formed a strategic partnership with MoonPay to provide digital collectibles’ payment options.
- The partnership aims to ease the process of buying digital assets.
- MoonPay formed a similar collaboration with LooksRare a few days back.
Magic Eden has collaborated with MoonPay to provide new payment options for the purchase of digital collectibles. Users of Magic Eden can buy non-fungible tokens throughout chains by using a debit or credit card, Google Pay and Apple Pay. The partnership aims at making the onboarding of new users an easy experience.
Vice President of Global Sales at MoonPay, Bree Blazak, said that they aim to welcome more people on Web3 and partnership with Magic Eden is a step towards this goal. He further said that cryptos are changing the way of connecting with humans and conserving highbrow assets.
The mission is to eliminate boundaries on Web3 space to let more individuals make an entry to this generation.
Zhuoxun Yin, Magic Eden chief operating officer, said that they want to make non-fungible tokens accessible to one and all. Currently, one of the major issues in the cryptocurrency community is the complicated nature of the technology. Furthermore, moving cash from one point to another or buying a non-fungible token requires users to download a crypto wallet.
Yin added that many users find it challenging to navigate the Web3 space. He mentioned that this is why they are working with brands, ecosystem builders and creators to incorporate tools to simplify it for users to navigate Web3 and introduce new uses related to non-fungible tokens and pull new users.
A few days back, MoonPay partnered with LooksRare to enable users to purchase and sell cryptos via MoonPay; thus, allowing them to buy non-fungible tokens through credit cards. In November 2021, Magic Eden generated $555 million owing to which it is working on establishing strategic partnerships. In December 2022, MoonPay cleared a regulatory obstacle to secure registration with the Financial Conduct Authority to represent consent with local money laundering rules.
