SNEAK PEEK
- Mastercard has partnered with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay to enable NFT-related transactions.
- The reason behind associating with such giants is letting users buy NFTs through their Mastercard cards.
- From arts to games to sports and collectibles, NFT marketplaces generated $25 billion in sales last year.
To make buying NFTs an easy and secure experience, Mastercard is bringing its payments network to non-fungible tokens and web3.
In their post, Simple NFT Purchasing, Mastercard said that the way people buy NFTs should be made easier and safer for customers all over the world.
The payment giant has announced working with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay with plans to enable NFT commerce.
Talking about the same, Mastercard (MA) said:
We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether on one of these companies’ marketplaces or using their crypto services.
The change would create a significant impact on the NFT system, as it has over 2.9 billion users spread across the world.
According to a new survey done on more than 35K people in 40 countries by Mastercard (MA), 45% of the respondents had acquired an NFT or considered doing so, and around half wanted more payment flexibility.
In January, Mastercard (MA) partnered with Coinbase Global (COIN) to allow a broader group of customers to purchase NFTs. In mid of February, it added crypto & digital currencies and open banking consulting services. Also, recently Nexo and Mastercard joined hands to introduce the world’s first-ever crypto-backed payment card.
By bringing its payments network to Web3 and making buying NFTs possible with its debit and credit cards, Mastercard will bring a revolution to the NFT world. This is because, throughout the NFT boom of 2021 and 2022, everyone from collectors and investors to traders have had to first buy cryptocurrency assets like Ethereum or Solana and then move towards purchasing NFTs.
In May 2022, Mastercard began filing over a dozen NFT patents and metaverse trademarks with the United States Patent and Trademark Office (USPTO).
