Mastercard, a global leader in payment technology, has announced a team-up with various NFT marketplaces to allow payments over its network for “easier and safer” purchases of non-fungible tokens (NFTs).
Mastercard (NYSE;) Announces NFT Partnerships
Raj Dhamodharan (executive vice president at Mastercard) announced on June 9 that Mastercard had partnered to Immutable X and Candy Digital as well as Mintable, Spring, Nifty Gate, MoonPay, The Sandbox, Mintable and The Sandbox in order to facilitate NFT commerce.
Raj Dhamodharan says Mastercard worked over the last year to integrate the two companies. He says that partnerships will make the purchase of NFTs more convenient for everyone around the world.
Mastercard is working with these companies to allow people to buy NFTs using their Mastercard cards via the companies’ marketplaces or using their crypto services.
This will significantly cut down on the time and hassle required to purchase NFTs. You will need to create a cryptocurrency wallet using ETH or any other crypto currency in order to purchase NFTs. Mastercard will allow people to purchase NFTs using fiat.
Mastercard will build a digital community for NFTs with Mastercard
Mastercard submitted 15 trademark applications to the U.S. Patent and Trademark Office in April for NFTs and other metaverse requirements.
Mastercard will now be building a digital community that is powered by NFTs, metaverse card processing, and an eMarket to make it easy to purchase digital goods.
- Mastercard’s major competitor, Visa (NYSE:), has also entered the NFT space, launching the Visa NFT Creator Program in April.
What You Need to Care About
Mastercard has 2.9 Billion cards around the world, so the Mastercard integration can have an impact on NFTs adoption and Web3.
Get more information about Mastercard’s crypto card in:
Nexo Partners with Mastercard for the First Crypto-Backed Credit Card
Mastercard Expands Consulting Service to Crypto and NFTs
Read about Visa’s NFT program below:
Visa Introduces NFT Creators A Booster Program