Thursday, May 19, 2022

Crypto exchange Coinbase partners with Mastercard to let users by NFTs.

The Takeaway:

Nasdaq-listed crypto exchange Coinbase and payments giant Mastercard have teamed up to simplify the buying experience of non-fungible tokens (NFTs).

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The US-based crypto exchange Coinbase and payments giant Mastercard have teamed up to simplify the buying experience of non-fungible tokens (NFTs). Today people have to use crypto for buying NFTs on platforms like OpenSea. Coinbase and Mastercard are working on letting users buy NFTs via Mastercard cards on Coinbase’s upcoming NFT platform. Mastercard said buying NFTs should be as simple as buying a t-shirt online.

 

People can use their Mastercard cards to make purchases on Coinbase’s upcoming NFT marketplace.

The announcement noted that users first need to open a crypto wallet, buy crypto, and then use it to purchase an NFT in an online marketplace. “As an important step in this mission, we’re excited to announce today that we’re partnering with Coinbase to let people use their Mastercard cards to make purchases on Coinbase’s upcoming NFT marketplace,” said Mastercard. Coinbase announced its NFT marketplace in October. It will let people mint and buy NFTs. The company also opened a waitlist at the time for users to join the marketplace and saw a massive response. 

 

More than 1 million people signed up for the Coinbase NFT marketplace.

According to the crypto exchange, more than 1 million people signed up for the Coinbase NFT marketplace. “Coinbase was basically an on-ramp for crypto for many, many users. Millions of people were able to access bitcoin for the first time by using Coinbase. So we want to do the same thing for NFTs with Mastercard by solving the pain points — to make it as easy as possible to buy an NFT and make sure it’s the best consumer experience,” Prakash Hariramani, senior director of product at Coinbase, noted.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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