Coinbase Partners With MasterCard For Upcoming NFT Marketplace Payments

Coinbase Finally Unveils Social NFT Platform For Limited Beta Users
  • NFT transactions produced $10.7 billion in the third quarter of 2021.
  • FTX introduced a platform solely available to customers in the United States.

Mastercard has announced that customers of Coinbase’s planned non-fungible token (NFT) marketplace will be able to use their credit cards to make purchases as part of a new relationship with the cryptocurrency platform.

According to Raj Dhamodharan, Mastercard’s VP of digital asset and blockchain products, “digital goods” like NFTs may be bought using a credit card under the agreement. Non-crypto natives will be able to participate in NFTs without needing a wallet or the purchase of ETH or another cryptocurrency.

More Than One Million People Have Signed Up

According to the company, more than one million people have signed up to be placed on the waiting list for Coinbase’s NFT marketplace since it was first announced in October. The NFT platform will be made available to users in the United States initially before being made available to consumers all over the globe by the cryptocurrency exchange.

Before Coinbase’s announcement in October, major cryptocurrency exchanges like FTX and Binance had created their own NFT markets in response to the growth and interest in the NFT business in 2021. To offer users the greatest amount of liquidity and the lowest possible fees, Binance launched an NFT platform in June. In September, FTX introduced a platform solely available to customers in the United States.

According to the most recent study conducted by DappRadar, the demand for NFTs will likely surge in 2022. According to the platform, the first ten days of 2022 are “looking strong,” with NFT transactions producing $10.7 billion in the third quarter of 2021 and $11.9 billion in the fourth quarter of the same year.

A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.