Crypto exchange Coinbase’s NFT marketplace venture will give consumers the option to purchase NFTs with a Mastercard. Covered: Coinbase Partners With Mastercard for NFT Purchases Coinbase’s Upcoming NFT Marketplace Coinbase Partners With Mastercard for NFT Purchases Today via a blog post, the leading centralized exchange Coinbase announced a new partnership with Mastercard. The partnership will […] The post Coinbase Partners With Mastercard to “Revolutionize” NFT Purchases appeared first on CryptosRus.

Coinbase Partners With Mastercard to “Revolutionize” NFT Purchases

Crypto exchange Coinbase’s NFT marketplace venture will give consumers the option to purchase NFTs with a Mastercard.

Covered:

  • Coinbase Partners With Mastercard for NFT Purchases
  • Coinbase’s Upcoming NFT Marketplace

Coinbase Partners With Mastercard for NFT Purchases

Today via a blog post, the leading centralized exchange Coinbase announced a new partnership with Mastercard. The partnership will work towards classifying NFTs as “digital goods”, so customers can buy NFTs by simply paying with their Mastercard cards. Coinbase was essentially an on ramp for many crypto users, and they want to do the same with NFTs:

“Coinbase wants to simplify the user experience to allow more people to join the NFTs community. Just as we helped millions of people access Bitcoin for the first time in an easy and trusted way, we want to do the same for NFTs.”

Mastercard also announced this partnership via a post in their newsroom, and claimed that buying NFTs should be as easy as buying “a T-shirt or coffee pods”, and they are on a mission to make this true.  Mastercard wants to make NFTs inclusive, and claims that although many crypto enthusiasts know what they’re doing to purchase NFTs, the common person does not.

“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.”

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Although we think of 2021 as the year of NFTs, this partnership and the push towards the ease of buying NFTs could make 2022 even better.

Coinbase’s Upcoming NFT Marketplace

Coinbase announced its plan to provide an NFT marketplace on their platform in October of last year. The marketplace, coined ‘Coinbase NFT’, will be a peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs simple. Their mission with NFTs as announced last year was to make them more accessible to everyone, and their partnership with Mastercard today shows that.

All NFTs are on-chain and Coinbase will cater to that. They plan on maintaining creative control through decentralized contracts and metadata transparency. The marketplace will initially launch supporting ERC-721 and ERC-1155 standards but its planned to have multi-chain support soon after. It’s uncertain when Coinbase will launch their NFT marketplace, but to stay up-to-date and sign up for early-access click here.

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