MasterCard which is a major payment processing company in line with VISA has previously shown openness to NFT. Most recently, MasterCard stated that they are ready to partner with market -leading NFTs in order to offer convenient NFT payment options to its users.
Based on its official press release, MasterCard continues its efforts to explore NFT and expand web3 mechanisms by partnering with key NFT markets. The list includes several leading NFT markets including Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay.
The motive for this collaboration with the NFT marketplace is to strengthen its web3 and allow more users to buy NFT directly through the use of Mastercard cards, without having to buy a cryptocurrency first.
According to the public statement, “We are working with these companies to allow people to use their Mastercard cards for NFT purchases. With 2.9 billion Mastercard card users worldwide, these changes could have a huge impact on the NFT ecosystem. ”
The company intends to simplify the NFT trading process by facilitating the purchase of NFT directly for consumers without having to go through some hassle.
The press release further cites an NFT survey conducted by MasterCard claiming that consumers are now looking for a more flexible method.
“A new MasterCard survey of more than 35,000 people in 40 countries found that 45% have purchased NFT or will consider doing so. About half of them seek flexibility in payment methods such as through the use of credit or debit cards ”.
This is not the first time MasterCard has decided to explore NFT. In January 2022, the company partnered with Coinbase by allowing its users to purchase NFTs from the Coinbase NFT marketplace.
Mastercard is expanding its partnership with NFT marketplaces and #web3 providers to simplify the process of buying NFTs. Now anyone can buy an NFT with their Mastercard, without having to buy crypto first. Learn more: https://t.co/YOf3wPZW55
- Mastercard News (@MastercardNews) June 9, 2022
