transactions for a range of its crypto ecosystem platforms, including “no transaction fee” marketplaces Immutable X, Candy Digital, metaverse online game The Sandbox, Mintable, Spring, Nifty Gateway, and Web 3 infrastructure provider MoonPay.
The company announced the news via a post on its website written by Raj Dhamodharan, executive vice president of product and partnerships for the company’s blockchain digital assets. Dhamodharan wrote that MasterCard is now “partnering” with the aforementioned companies to “allow people to use their MasterCard to purchase NFT, either in one of these companies’ markets or using their crypto asset services. “
This move would effectively allow anyone with a MasterCard to purchase NFT from the aforementioned marketplaces, rather than requiring them to first exchange their fiat currency assets for cryptocurrency.
MasterCard noted – as it claims there are about 2.9 billion MasterCard cards in circulation worldwide – that the move would shake up the entire marketplace for NFT.
The company writes.
“This change could have a significant impact on the NFT ecosystem. Come buy the NFT you want on the marketplace of your choice. and without having to buy cryptocurrency first.”
Dhamodharan noted that MasterCard has brought its “payment network” to the new NFT marketplace on cryptocurrency exchange Coinbase, which was launched last month.
This “integration,” he claims, is designed to “make cryptocurrencies more accessible and help the NFT ecosystem continue to grow.”
Dhamodharan pointed to data from a survey of MasterCard users, which included “35,000 people in 40 countries,” which found that 45 percent of customers “have already purchased or are considering purchasing NFT,” and “about half” want to be able to purchase NFT. “About half” want to be able to “use cryptocurrency to pay for everyday purchases.”
The company added that it is “implementing” its “full suite of features to enhance customer security” – claiming that NFT transactions will be protected by a “similar” level of security to that used for offline or online purchases. It said it is “implementing” its “full suite of customer security enhancements” – claiming that NFT transactions will be protected by “similar” levels of security as those used for offline or online purchases. It said its “web security tools” will help ensure the security and integrity of user data.
The executive vice president concluded that MasterCard sees “tremendous potential” in the NFT market and said the payments provider “looks forward to continuing to work with all of these companies to ensure that this market becomes more popular, more accessible and easier to understand. “
Earlier this year, cryptocurrency company Nexo (NEXO) announced that it had partnered with MasterCard to issue a card that allows customers to make purchases without selling their digital assets.
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