According to a press release on Thursday (June 9). Mastercard is teaming up with NFT marketplaces to allow purchases via payments over its network. This is an attempt toward making the purchase of NFT tokens “safer and easier.
Mastercard said it’s working on this NFT commerce enablement with a variety of companies including Immutable X, Nifty Gateway, The Sandbox, Candy Digital, Mintable, Spring, and MoonyPay the Web3 infrastructure provider.
The release disclosed that Mastercard is working with these companies to allow customers to buy NFTs with their Mastercard cards, either through the companies’ marketplaces or by making use of their crypto services.
According to Mastercard, The NFT marketplaces represent a large chunk of the NFT space and have generated over $25 billion in sales in 2021 in different categories like art, collectibles, sports, and, video games. In addition to this, the companies will help further expand the adoption of Mastercard’s Web3.
This development is coming off the company’s previous work of adding its payment network to the Coinbase NFT market, which was opened to every Coinbase user in May.
The company is also planning a digital community that will come with NFTs and metaverse payment card processing fueled interactions, along with an eMarket where users can buy and sell downloadable digital goods and virtual reality events.
Featured image source: PYMNTS.com
