Mastercard Partners With Coinbase to Provide Easier Access To NFTs

Mastercard has teamed up with crypto exchange Coinbase to provide easier access to non-fungible tokens (NFTs). Mastercard will be available as a payment method for NFTs on Coinbase’s upcoming marketplace.

As part of the agreement, Coinbase customers will be able to use Mastercard credit and debit cards to make purchases on the crypto exchange’s upcoming NFT marketplace. Coinbase unveiled late last year plans to launch the platform for minting and buying nonfungible tokens, which have exploded in popularity over the past 12 months.

According to Mastercard’s the goal of the partnership is to make it easier for everyone to buy NFTs. They commented:

“We’re excited to announce today that we’re partnering with Coinbase to let people use their Mastercard cards to make purchases on Coinbase’s upcoming NFT marketplace.

Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive.

Mastercard sees even greater potential for NFTs’ underlying tech to go beyond art and collectibles into many more areas.”

Coinbase announced their plans to launch an NFT market place last October. Dubbed as “Coinbase NFT” was described as “a peer-to-peer marketplace that will make minting, purchasing, showcasing and discovering NFTs easier than ever.”

The Nasdaq-listed Coinbase wrote in the announcement:

“We’re making NFTs more accessible by building user-friendly interfaces that put the complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery. And we’re going to grow the creator community exponentially, a win for artists and for fans.”

Mastercard, one of the world’s largest credit card and payment companies, has been on a crypto partnership spree lately. Mastercard announced in October that it’s teaming up with Bakkt to let banks and merchants in its network offer crypto-related services. It has also partnered up with Gemini, BitPay and Mintable, among others.