MasterCard – A “simpler and more secure” NFT purchase process

Payment companies need to be the next to take advantage of the booming cryptocurrency market. And there are more initiatives to integrate these digital currencies into networks that were often canned until then. To the point of having triggered a really tough competition in the field, between giants like PayPal, Visa and MasterCard. Everyone goes there with their innovative message to attract these hordes of new users. And it’s currently the very popular NFT market that MasterCard has apparently decided to tackle.

The true specificity of the NFT market is its ability to explode outside the cryptocurrency sector. With an ever-increasing adoption of companies that are careful not to pronounce these three letters too much in their communication campaigns. For their status is still very controversial, between blatant ignorance and more or less stubborn prejudices. But that does not stop us from seeing more and more important players in the traditional economy are participating in this race.

And while platforms are visibly planned even in Wall Street offices, some work the opposite way. With payment offerings dedicated to NFTs that no longer require going through the cryptocurrency box. Signs of growing adoption or a strange shift? This is at least the strategy that MasterCard seems to have adopted. With a buying process presented as “simpler and safer.” Questions about perspective …

MasterCard – Buy your NFTs with a CB

The introduction of cryptocurrency is still in its infancy. But their use as a means of payment is certainly a solution for the future. An observation made by some giants in the sector, PayPal is still largely at the forefront. With resolutely different strategies from one multinational to another to find a place in this digital economy in the mold. A dynamic where the company MasterCard is trying an NFT option. With the integration of its payment solution with platforms in the sector, so far only serviced by purchases in cryptocurrencies.

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In fact, in a press release published yesterday, MasterCard states that it has established partnerships of this type with a number of NFT platforms. A list that includes: Immutable X (IMX), Candy Digital, The Sandbox (SAND), Mintable, Spring, Nifty Gateway, but also MoonPay. And the goal “to expand their potential customer base to millions of people around the world.”

We partner with these companies to enable people to use their Mastercard for NFT purchases, whether this is done at one of these marketplaces or by using their crypto services. With 2.9 billion Mastercards worldwide, this change could have a major impact on the NFT ecosystems. »

Raj Dhamodharan, MasterCard Vice President

MasterCard – Helps the NFT ecosystem grow

A dynamic already triggered by the leader Opensea a little over two months ago. This with the integration of a CB payment option, which also goes through the MoonPay service. And the ability to buy an NFT directly in Euros, without going through the ETH box (or other cryptocurrencies now available).

In summary, these integrations are designed to make the cryptocurrency industry more accessible and help the NFT ecosystem continue to grow, innovate and attract more fans. »

Raj Dhamodharan, MasterCard Vice President

Because, according to a recent survey conducted by MasterCard, among a panel of 35,000 people in 40 countries, 45% of respondents had already purchased an NFT or were considering doing so. And almost half indicated that it would be easier to take the plunge if the payment methods offered were more flexible. That is, according to MasterCard, other than solely in the form of cryptocurrencies. A case to follow …

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