Payments giant Mastercard announced this week that its cardholders can now buy NFTs without crypto. The move is an attempt to make buying NFTs easier and safer. To facilitate this, the company has partnered with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay. What exactly does Mastercard’s latest initiative mean for the NFT industry?

About buying NFTs with Mastercard
Mastercard has partnered with several NFT marketplaces to enable its cardholders to purchase NFTs directly. Current partners include Web3 infrastructure provider MoonPay; Immutable X, Candy Digital, The Sandbox, Mintable, Spring and Nifty Gateway. It allows users to buy NFTs on a marketplace of their choice without buying crypto first.
“We are working with these companies to enable people to use their Mastercard cards to make NFT purchases, whether on one of these companies’ marketplaces or through their crypto services.” wrote Raj Dhamodharan. He is Mastercard’s Executive Vice President, Digital Asset & Blockchain Products & Partnerships.
“With 2.9 billion Mastercard cards worldwide, this change could have a major impact on the NFT ecosystem,” he added.
In addition, Mastercard uses its cybersecurity tools to increase security and protect user privacy during transactions. Additionally, the company added that its recent efforts are “to build on the tremendous potential of the NFT market.”
What does this mean for the NFT space?
It’s no secret that the NFT space is geared towards crypto users. Finally, a majority of NFT marketplaces only accept payments in crypto. This means there is a significant barrier to entry for non-crypto users. Mastercard’s latest initiative solves this problem and makes buying digital assets easier than before.
earlier this year, Mastercard has partnered with Coinbase Allow users to purchase NFTs on the Coinbase marketplace using Mastercard credit and debit cards.
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