Coinbase will provide the opportunity to buy NFT via bank cards
Crypto exchange Coinbase and payment giant Mastercard have begun the partnership in order to simplify the process of buying non-fungible tokens (NFT).
Now users have to use crypto to buy NFT. The project of Coinbase and Mastercard is aimed at letting people buy NFT for fiat money. The crypto exchange will introduce a convenient service for collectible tokens trading – NFT Coinbase.
According to Mastercard representatives, the new marketplace will make the purchase of NFT as simple as the acquisition of ordinary things in online shops. The cooperation with Coinbase is an important step towards this goal. The payment system clients will be provided with the opportunity to use bank cards to buy tokens on the NFT Coinbase platform.
Last November, Coinbase announced its NFT platform where it will be possible to buy and sell collectible tokens. The exchange community has received the new project favourably, and more than 1 million people have signed up for early access to the service.
Prakash Hariramani, Financial Affairs senior director at Coinbase, noted that the exchange is eager to provide simple and convenient NFT trading for its clients. Previously, Coinbase has already helped millions of people to get access to cryptocurrencies. This joint initiative between Mastercard and Coinbase will simplify the user experience and make the buying of NFT available to a mainstream audience.
Other world-famed companies also want to popularize NFT. Earlier in the year, Samsung Electronics announced a line of TVs with a platform for buying and selling non-fungible tokens.
Instagram will create features that support non-fungible token operations. Besides, the platform will attract NFT creators, and users will be able to take out a paid subscription for their favorite artists.
Mastercard continues to expand the list of available services. It has transpired previously that the payment system will launch crypto payment cards in the Asia Pacific region. Moreover, last year Mastercard announced that it would back cryptocurrency startups.