American crypto exchange platform Coinbase Global, Inc. has partnered with Mastercard to make non-fungible token (NFT) purchases easier. Coinbase explained that collaborating with the payment processing giant will afford newcomers seamless entry into the NFT marketplace. In a blog post, the crypto exchange noted the perceived difficulty relatively new and inexperienced crypto users face when buying NFTs:
“By enabling more people to join the creator economy and profit from their work, NFTs (Non-Fungible Tokens) have an important role to play in this mission. However, the experience of purchasing an NFT remains complex for many users.”
Coinbase further went on to introduce the Mastercard-NFT initiative and teased additional payment features down the line. According to the largest cryptocurrency exchange in the United States by trading volume:
“Coinbase wants to simplify the user experience to allow more people to join the NFTs community…That’s why we’re working with Mastercard to classify NFTs as “digital goods”, allowing a broader group of consumers to purchase NFTs. And, coming soon we’ll “unlock” a new way to pay using Mastercard cards.”
Coinbase also recently launched Coinbase NFT, an NFT peer-to-peer marketplace. This initiative facilitates the transacting, exhibition, and discovery of digital collectibles among its users.
Founded in June 2012, Coinbase went public on the NASDAQ exchange via a direct listing on April 14th, 2021.
Image Credits: Pixabay
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