Mastercard payment platform adds The Sandbox, Nifty Gateway, and Mintable to its simple NFT purchase scheme. How to use it?
Being criticized for its make rich-fast ideology, the NFT market experienced a huge drop in the last months along with all digital assets.
Now celebrities aren’t hurrying up to buy monkeys and other collectible stuff as it was before.
But you can’t say that NFTs are dying as more and more platforms get ready with it.
Recently Mastercard added new NTF marketplaces to its simple purchase scheme. Now you can see even some metaverses there.
So here is what to know to date and how to use the new feature.
Mastercard NFT announcement
The payment platform wrote on Twitter about its collaboration with several non-fungible token marketplaces.
Mastercard promises to bring its payments network to Web3, making it possible to purchase NFTs with their debit and credit cards.
Immutable X, Candy Digital, The Sandbox, Mintable, Spring, and Nifty Gateway are among the new Mastercard partners. As well as Web3 infrastructure provider MoonPay.
Now the platform’s users can purchase NFTs in an ‘easier and safer way’. That means you can complete transactions on those marketplaces not only with crypto but also with Mastercard cards.
It says that these marketplaces generated more than $25 billion in sales in 2021. It is about art, sports, video games, and metaverse collectibles.
“We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether that’s on one of these companies’ NFT marketplaces or using their crypto services,” said Raj Dhamodharan,
Executive Vice President of Digital Asset Blockchain Products&Partnerships at Mastercard.
According to him, there are 2,9 billion Mastercard cards issued worldwide to date.
Changing the NFT ecosystem
With such a mogul partner, the NFT market can hope for good scalability as Mastercard allows direct collectibles purchases.
According to the company survey, 45% of 35 000 responders in 40 countries had already bought an NFT or consider to get one.
Earlier this year Mastercard announced its partnership with Coinbase to ‘simplify the purchasing process on its Coinbase NFT site’. Previously the company added some payments-focused consulting services for banks and merchants to cover NFTs and crypto transactions.
It’s worth noting that nonfungible tokens or NFT trading hit $17 billion in 2021, which made a 21 000% increase in comparison to 2020.
In general, more than 2.5 million crypto holders traded NFT last year. And NFT investors got a $5.4 billion profit from token sales.
Some experts expect the NFT market to grow exponentially in the coming years.
So NFTs are the new sex, isn’t it?