Easy NFT purchase: Mastercard brings payment networks to NFTs

We believe the process of buying an NFT must be simpler and safer.

When that happens, customers get the things they want with less stress and uncertainty. For NFT creators, these changes increase their potential customer base to millions of people worldwide.

We have been innovating for the past year to make these improvements happen. As part of this work, we are pleased to announce that we are working to enable NFT trading with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay.

We work with these companies to allow people to use their Mastercard cards for NFT purchases, whether it is on one of these companies’ marketplaces or by using their crypto services. With 2.9 billion Mastercard cards worldwide, this change could have a major impact on the NFT ecosystem.

Buy the NFTs you want in the marketplace you choose. You do not need to buy crypto first.

These NFT marketplaces represent a huge breadth of the burgeoning NFT area – which generated more than $ 25 billion in sales in 2021 – from art to sports to video games to collectibles to metaverse platforms. These marketplaces also host some of the biggest names in NFTs.

With the help of these companies, Mastercard’s expanding use of Web3 – a new version of blockchain-based internet – adds to our existing work to bring our payment network to Coinbase’s new NFT marketplace, which opened to all Coinbase users in May. Overall, these integrations are designed to make crypto more accessible and help the NFT ecosystem continue to grow, innovate and attract more fans.

And that’s exactly what people want. A new Mastercard survey of more than 35,000 people in 40 countries found that 45% had bought an NFT or would consider doing so, and about half sought more flexibility – to be able to pay with crypto for daily purchases or use a credit or debit card to buy an NFT.

We also use our full suite of features to enhance customer security, giving people similar protection as the one they enjoy when making transactions in a store or online with a Mastercard.

We use our cybersecurity tools to increase security and protect user data for purchases people make with a Mastercard.

These latest efforts are intended to build on the enormous potential of the NFT market, increase consumer payment choices and expand NFT communities. We look forward to continuing our work with all of these companies to ensure that this market can become even more inviting, accessible and easy.