Mastercard is joining forces with Coinbase to enable people to buy NFTs with their debit and credit cards.Coinbase recently joined the NFT party, outlining plans to build a decentralised marketplace where users can mint, collect and trade non-fungible tokens.
However, the firm acknowledges that the process of buying an NFT can be daunting for novices, requiring them to open a crypto wallet, buy crypto, then use it to purchase the NFT in an online marketplace.
The firm is working with Mastercard to classify NFTs as “digital goods” and unlock a new way to pay using cards.
Raj Dhamodharan, EVP, digital asset and blockchain products and partnerships, Mastercard, says: “We’re working to make NFTs more accessible because we believe tech should be inclusive.
“When more people are included in new technologies, it spurs innovation, helps economies grow and expands choices for consumers.”