Cryptocurrency exchange Coinbase and payment giant Mastercard are preparing a new initiative, exchange users will be able to buy Non Fungible tokens (NFTs) using Mastercard cards.
Currently, NFTs can be purchased for crypto on sites like OpenSea. However, on Coinbase’s NFT platform, collectible tokens can also be purchased using fiat funds on Mastercard cards. The process will not be significantly different from buying a smartphone or a T-shirt in regular online retail stores.
⚡️Game changer!⚡️
We're excited to announce our new partnership with @Mastercard. Stay tuned as we work to unlock a new way to purchase NFTs using Mastercard cards.
Learn more?https://t.co/3Yazzbz0ws
— Coinbase (@coinbase) January 18, 2022
Coinbase Blog Post writes:
“Coinbase wants to simplify the user experience to allow more people to join the NFTs community. Just as we helped millions of people access Bitcoin for the first time in an easy and trusted way, we want to do the same for NFTs.
That’s why we’re working with Mastercard to classify NFTs as “digital goods”, allowing a broader group of consumers to purchase NFTs. And, coming soon we’ll “unlock” a new way to pay using Mastercard cards.”
Recall that plans to launch the Coinbase NFT platform were first announced in October last year. Interest in the platform was so incredible that in less than 24 Hours Coinbase NFT Waitlist toped 1,000,000 Signups.