Easy NFT purchase: Mastercard brings payment network to NFTs
We believe the process of buying an NFT must be simpler and safer.
When that happens, customers get the things they want with less stress and uncertainty. For NFT creators, these changes increase their potential customer base to millions of people worldwide.
We’ve been innovating over the past year to make these improvements happen. As part of this work, we are pleased to announce that we are working to enable NFT trading with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay.
We are working with these companies to allow people to use their Mastercards for NFT purchases, whether on one of these companies’ marketplaces or using their crypto services. With 2.9 billion Mastercard cards worldwide, this change could have a major impact on the NFT ecosystem.
Buy the NFTs you want on the marketplace you want. You don’t need to buy crypto first.
These NFT marketplaces represent a huge breadth of the burgeoning NFT space – which generated more than $25 billion in sales in 2021 – from art to sports to video games to collectibles to metaverse platforms. These marketplaces also host sales for some of the biggest names in NFTs.
With the help of these companies, Mastercard’s expanding use of Web3 – a new version of the internet based on blockchain – adds to our existing work to bring our payments 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 continue to grow, innovate and bring in more fans.
And that’s exactly what people want. A new Mastercard survey of more than 35,000 people in 40 countries found that 45% had bought an NFT or would consider doing so, and about half sought more flexibility – being able to pay with crypto for everyday purchases or use a credit or debit card to purchase an NFT.
We also use our full suite of features to enhance customer security, giving people similar protections to what they enjoy when transacting in-store or online with a Mastercard card.
We use our online security tools to increase security and protect user data for purchases people make with a Mastercard card.
These latest efforts are intended to build on the enormous potential of the NFT market, increase payment choices for consumers and expand NFT communities. We look forward to continuing our work with all these companies to ensure that this market can become even more welcoming, accessible and easy.
