Coinbase Joins Forces with Mastercard for Simplified NFT Purchases –

Leading US-based crypto exchange Coinbase recently announced that it has inked a deal with payment technology pioneers, Mastercard. The partnership will enable users of Coinbase’s upcoming NFT marketplace, ‘Coinbase NFT,’ to directly purchase NFTs with fiat currency from their Mastercard credit or debit card.

Although the partnership will render blanketing benefits available to all Coinbase NFT marketplace and Mastercard users, the company stated that its primary purpose is to mitigate the barriers to entry which novel NFT enthusiasts are faced with when carrying out the seemingly daunting task of setting up a crypto wallet and investing in cryptocurrency.

“That’s why we’re working with Mastercard to classify NFTs as “digital goods,” allowing a broader group of consumers to purchase NFTs. And, coming soon we’ll “unlock” a new way to pay using Mastercard cards,” stated Raj Dhamodharan, Executive Vice President of Digital Assets and Blockchain Products at Mastercard. He also alluded to the importance of simplifying the NFT purchasing process, saying that “Cryptocurrency enthusiasts are used to this process, but for most people, it’s not simple, it’s not intuitive. We think it should be much easier.”

Dhamodharan continued to speak on how the partnership has the potential to influence the wider NFT landscape, whilst also hinting that Mastercard’s involvement in the NFT space may not stop at this: “Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive. As it does, Mastercard sees even greater potential for NFTs’ underlying tech to go beyond art and collectibles into many more areas.”

Since Coinbase first announced its upcoming NFT marketplace back in October, more than one million people have signed up to its waiting list. The crypto exchange plans to make the NFT platform available to U.S. users only before opening it up to a global audience.

Follow Coinbase >> Twitter

Follow Mastercard >> Twitter

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Team Writer. 100% Non-Fungible.