Financial Giant Mastercard to Allow its Customers to Make NFT Purchases Directly

On June 9, Mastercard, an American multinational financial services corporation, officially announced its plans to “enable NFT commerce.” According to the report, the leader in worldwide payments will partner up with various non-fungible token (NFT) crypto startups, including Candy Digital, Immutable X, Mintable, Nifty Gateway, The Sandbox, and a crypto payment solution MoonPay.

With the partnership, the organization will provide its users the ability to use Mastercard cards for various NFTs purchases, “whether that’s on one of these companies’ marketplaces or using their crypto services.” This means that consumers won’t have to worry about firstly buying crypto in order to purchase NFTs as this process will be avoided. Mastercard added:

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“These integrations are designed to make crypto more accessible and help the NFT ecosystem keep growing, innovating and bringing in more fans.”

Over the past year, Mastercard has been highly keen on expanding its payments networks to include NFTs by joining forces with various crypto-related marketplaces. Back in January, Mastercard actually collaborated with crypto exchange platform Coinbase to provide users more access to the ins and outs of purchasing, selling, and trading NFTs.

The financial services corporation mentioned that with the latest addition it would also focus on providing more safety to customers of the platform.

In fact, Mastercard decided to provide its users more access to NFTs after conducting a recent survey that saw participation from 35,000 people in 40 various countries. According to the investigation, 45% of people have already bought an NFT at some point in their life or are still considering doing so. The other part also displayed their flexibility in purchasing something in such a digital asset.

It seems as though payment processing organizations are not shying away from cryptocurrencies and blockchain technology. For instance, back in March, another financial services company Visa rolled out a new Creator Program to provide various artists, producers, and other types of creators the opportunity to accelerate their creative businesses via NFTs.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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