Just-In: Mastercard Allows Cardholders To Buy NFTs Without Crypto

Mastercard International Inc has jumped into the growing market of non fungible tokens (NFT) and Metaverse. The payment giant has come forward to join hands with several leading NFT marketplaces to extend its services.

Mastercard expands services in Metaverse

Mastercard showed its curiosity about getting into the world of NFTs and the Metaverse when it applied for several trademark applications. The payment giant mentioned that they have been working on it for the past year. Mastercard will be enabling NFT commerce with Immutable X, The Sandbox, Mintable, Candy Digital and more. It will also be the Web3 infrastructure service provider for MoonPay.

In a release, the corporation mentioned that this will allow the users to use their Mastercard cards to buy NFTs. It added that over 2.9 billion of their cardholders now can dive into the NFT ecosystem creating a bigger impact in the industry. Meanwhile, Mastercard’s new service will let the users buy NFTs directly without getting them involved with cryptocurrencies.

Earlier, Mastercard filed around 15 trademark applications for its Circles Logo and Priceless slogan. As Coingape reported, the payment giant is looking to construct marketplaces for digital assets and NFT backed services.

Payment giant deploys tools for safe NFT purchase

As per the blog, Mastercard did a survey with over 35,000 people in around 40 countries. The results showed that 45% have bought an NFT or will be considering doing so. It added that the digital assets marketplace depicts a huge ground in the evolving NFT space. They generated more than $25 billion alone in sales last year.

Mastercard stated that this collaboration will expand the adoption of Web3. While it will also add to their existing payment network with Coinbase NFT marketplace. However, all these integrations will allow the users to make crypto easy to access and support the NFT ecosystem’s growth. Meanwhile, the corporation will be implying cybersecurity tools to safeguard and protect user data.