Coinbase and MasterCard has teamed up to categorize NFT as digital goods and setting up a Coinbase NFT marketplace that makes buying, selling and exchanging NFT easy and more accessible for everyone by simply using a card for making payments.
The collaboration was done by keeping in view the hesitation of people to make purchases in cryptocurrency.
Buying NFT in other platforms like, OpenSea or Rarible, requires you to set up a wallet, buy a cryptocurrency and then use the currency to make a purchase for NFT. Read more crypto news.
But the collaboration will facilitate the buying experience as any other e-commerce purchase.
“Buying digital goods on an e-commerce site should be as easy as buying a T-shirt or coffee pods.” said Raj Dhamodharan, Director of Digital Asset and Blockchain Products and Partnerships at MasterCard, in a statement. “With just one click, you can make your purchase.”
Prakash Hariramani, Senior Product Director at Coinbase, stated, “Coinbase wants to simplify the user experience to allow more people to join the NFTs network.”
Coinbase announced its plan to launch an NFT market last October, quickly gained attention with over a million users already signed up.
The Coinbase NFT market is yet to go live but you can sign up for early access as it have a waitlist. In the meantime, Coinbase has ran a poll among its users to understand their ideas and visions for offering better results.
While Coinbase is quite late in this trend, as other big firms has already entered the market and explored the possibility of adding debit and credit payment, Coinbase is not far behind.
To read our blog on “Walmart is ready to join Metaverse and sell its own NFTs,” click here.