Payments giant, Mastercard (MA), made a big step when announcing its cardholders can now buy NFTs on various marketplaces without purchasing cryptocurrency. This move is believed to create more mainstream for the NFT market.
For the new project, Mastercard has partnered with Immutable X, a layer-2 network for Ethereum. The company is also working with NFT-based online game The Sandbox, fintech company MoonPay and NFT platforms like Nifty Gateway, Candy Digital, Spring, and Mintable.
With this idea, people interested in NFTs can purchase them without needing to acquire crypto first. Therefore, buyers will get rid of the “stress and uncertainty” while obtaining an NFT, especially the less tech-savvy folks. On the NFT creator’s side, they can get exposure to a broader audience, expanding their customer base.
As for safety, Mastercard promises to “reinforce customer safety” and “protect user data”.
Mastercard recently conducted a survey that attracted 35,000 respondents in 40 countries and found that 45% of them had purchased an NFT or would consider buying one. In addition, about half of those surveyed sought more flexibility and wanted to be able to pay with crypto for everyday purchases or use a credit or debit card to buy an NFT.
“We believe the process of buying an NFT needs to be easier and safer”
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