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Mastercard will allow NFT purchases using its cards

Mastercard will migrate its payment network to Web3 and enable NFT purchases using its debit and credit cards.

Interest in NFTs is declining globally. Mastercard wants to renew people’s interest in this new type of investment. According to a published article, the company thinks that for NFTs to reach more people, the buying process needs to be made easier and safer.

When the whole system is simplified, customers will be able to purchase NFTs more safely and without having to buy cryptocurrencies like Ethereum or Solana first.

Mastercard is not alone in this

The entire Web3 and NFT trading solution partners with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay.

“We are working with these companies to enable people to use their Mastercard to make NFT purchases, either on one of these companies’ NFT marketplaces or using their crypto services. With 2.9 billion Mastercard cards worldwide, this change could have a big impact on the NFT ecosystem and help the NFT ecosystem continue to grow, innovate and bring in more fans.”

Mastercard logo with a cryptocurrencies coins

Mastercard’s Digital Payments survey polled 45,000 people in 40 countries and the result was interesting. 45% of the people polled were interested in buying NFT or had already done so. At the same time, about half of them wanted more flexibility to use cryptocurrencies to pay for everyday purchases and to use debit and credit cards to buy NFTs

Read also: Is Bitcoin getting ready for a rise?

So we’ll see how Mastercard will communicate the whole NFT system to people. With the number of people in their system, they have great potential to kickstart the market. Of course, there is also the possibility that the adoption will not be completely successful and the interest will be similar to the launch of the new NFT marketplace by the Coinbase exchange.

Bruno is an Investment enthusiast with several years of experience in the industry. He enjoys following the latest news and technology trends...

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