As soon as it was announced in October 2021, Coinbase NFT had attracted the interest of more than one million potential users in less than 24 hours. Now, the platform specializing in non-fungible tokens (NFT) wants to make it easier to buy them with Mastercard bank cards.
No more need for cryptos, buy your NFT with a Mastercard
Decidedly, the 2 giants of bank card payments that are Visa and Mastercard are becoming more and more passionate about the world of crypto-currencies. And in particular for the field of non-fungible tokens.
If we already knew that Visa has become a big fan of NFT – and in particular of CryptoPunks -, it seems that Mastercard does not want to be left behind too much on this field. At least that’s what it says in a recent Coinbase press release, announcing a new partnership with MasterCard.
This collaboration will allow users of the Coinbase NFT platform to purchase their unique tokens very simply, thanks to a Mastercard bank card. As Prakash Hariramani, Senior Product Manager for Coinbase explains:
“We want to make the process of buying NFT very easy. Coinbase was essentially an on-ramp to crypto for many, many users. Millions of people were able to access bitcoin for the first time using Coinbase. So we want to do the same thing for NFTs with Mastercard by solving the pain points, making it as easy as possible to buy an NFT (…)”.
NFTs to support your financial freedom
So there will be no need to bother with having the right crypto on the right blockchain to buy NFTs on Coinbase’s specialized platform, since a good old CB in dollars, euros, or other fiat currencies will do just fine (if it’s a Mastercard).
The Coinbase executive also emphasized the incredible opportunity that NFTs could represent to help every individual become financially empowered:
“Our mission at Coinbase is to increase economic freedom around the world. And we believe that by enabling more people to join the creator economy and benefit from their work, NFTs have an important role to play in that mission. For example, [content] creators can issue social tokens with a community of fans. (…) the creator can have a direct relationship with their fans, and retain most of the economic value – unlike [centralized] Web2 platforms [such as YouTube].”
Prakash Hariramani, senior product manager for Coinbase
On the user side, NFTs are fully owned by the user “regardless of the game or metaverse” in which they earned/acquired them. They can then dispose of it financially wherever and whenever they want.
Between Axie Infinity and recent competitors like DeFi Kingdoms, it’s true that play-to-earn games are particularly successful, and their NFTs are selling like hotcakes. If Marstercard and Coinbase will soon allow the sale and purchase of these non-fungible tokens with bank cards, this will increase their liquidity even more, for the benefit of all.
