MasterCard to partner with Coinbase on NFTs

MasterCard to partner with Coinbase on NFTs. This move will hopefully make NFTs more accessible. Let’s find out more about this.

Introduction

MasterCard Inc, the famous US based multinational financial services corporation is partnering with Coinbase, also a US based Crypto Exchange, to make NFTs more accessible to the general public.

Background

Coinbase, in a blog announced the news of the partnership with MasterCard. In that blog, Coinbase revealed that its users can now purchase NFTs on Coinbase’s upcoming NFT marketplace using their MasterCard cards.

All about the partnership

The Senior Director of Product at Coinbase, Prakash Hariramani, said that the company aims to improve user experience and make the process simple. With this, many more people can join the NFT community.

“That’s why we’re working with Mastercard to classify NFTs as “digital goods”, allowing a broader group of consumers to purchase NFTs. And, coming soon we’ll “unlock” a new way to pay using Mastercard cards,” said the blog.

Coinbase NFT

The blog further talked about the “Coinbase NFT, a peer-to-peer marketplace that will make minting, purchasing, showcasing, and discovering NFTs easier.”

After that, the blog said, “thanks to our work with Mastercard, we’ll be able to provide a better customer experience on Coinbase NFT, and plan on working to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network.”

MasterCard’s thoughts on the partnership

MasterCard is also enthusiastic about the partnership, as reported by bitcoin.com. MasterCard realises the potential of NFTs. The company thinks that the best way to help the NFT market, is by including more NFT enthusiasts with safety and security. MasterCard also is optimistic about the future of NFTs. The company thinks that NFTs will in future, have applications beyond basic art and collectible items.

Conclusion

MasterCard to partner with Coinbase on NFTs. Definitely, this move will make NFTs more accessible to the general population.

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