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Coinbase partners with Mastercard to enable NFT purchases via cards

January 18, 2022
Reading Time: 4 mins read
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Mastercard said the goal is to make buying NFT on Coinbase’s upcoming platform a place to buy, sell and store cryptocurrency as “simple” as ” buy a t-shirt”. in an online store.

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***

Cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange Coinbase is an American company that operates a cryptocurrency exchange platform. has partnered with payments giant Mastercard to make it easier for users to make purchases of tokens no fungibles (NFT).

The company announced the partnership on Tuesday through itsblog oficial. Coinbase reported that he is working with Mastercard to allow your users to acquire NFT via cards once the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. launches its trading platform for collectibles called Coinbase NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. .

The association will also seek to classify the NFTs as “ digital digital technologies are these electronic tools that have the ability to generate, store or even process data. goods “a move that will allow “ a broader group of consumers buy NFT “, the exchange said in the statement.

Through our work with Mastercard, we will be able to provide a better customer experience on Coinbase NFT and plan to work to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network.

Mastercard to facilitate NFT trade

October 2021, Coinbase announced which is developing its own platform for buying and selling NFT. As reported by DiarioBitcoin at that time, the marketplace will allow users to mint and trade digital collectibles. The company saw a massive response. In less than two days of the announcement, the platform reached more than one million registrations of interested customers .

The company had already highlighted that one of their main goals with the market an area or arena, online or offline, in which commercial dealings are conducted. is to expand the use cases of cryptocurrencies while making access to NFTs possible in a simpler way for more people.

Currently, those interested in acquiring collectibles or digital goods in NFT must first have a cryptocurrency wallet, as well as funds in assets such as Ethereum a decentralized open-source blockchain with smart contracts functionality. . Having this, users can access online marketplaces such as OpenSea to purchase digital art, video game collectibles or other tokenized items.

“Cryptocurrency enthusiasts are used to this process. But for most people, it’s not simple, it’s not intuitive. We believe it should be much easier. This will ensure that NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). can be for everyone. “ , dijo Mastercard in this regard in a communiqué . The payments firm added:

Buying digital products should be as simple as buying a T-shirt or coffee capsules on an e-commerce site. […] As an important step in this mission, we are pleased to announce today that we are partnering with Coinbase to enable people to use their Mastercard to make purchases on Coinbase’s next NFT marketplace .

Coinbase has a vision for the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users.

Coinbase is not the only exchange that has announced its own marketplace for digital collectibles. Others exchanges como Binance y FTX have also launched their NFT platforms, while others such as Blockchain.com are also in the process of developing their markets.

Also recently, Coinbase added support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for NFT in its escrow a financial instrument where assets or cash are held by a third party while a buyer and a seller complete a deal. wallet, Coinbase Wallet a place where cryptocurrency users can store, send and receive digital assets. . Overall, the NASDAQ-listed exchange has been focusing its attention on the collectibles market amid growing interest in the metaverse, a virtual world in which ownership of digital goods is in the form of NFTs.

In a December release, the company’s CEO, Brian Armstrong, described the vision of Coinbase for the metaverse, pointing to the use of NFT-based identity tools. “ will tie all the pieces of the identity together, essentially creating an identity on-ramp into the metaverse. “.

The trend so far has seen renowned companies such as Nike, Samsung, Ubisoft, Microsoftamong others, to explore possible developments in the metaverse.


  • OpenSea sets new record and surpasses $3.5 billion USD traded in the last 30 days
  • Adidas Originals announces partnership with crypto exchange Coinbase
  • Crocs wants to have its own NFTs

Sources: Coinbase Blog , Mastercard , The Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. , Decrypt , archivo

Article versioned by Hannah Estefania Perez / DiarioBitcoin

Image from Unsplash edited in Canva

Tags: coinbaseComercioMasterCardNFTPlatformTarjetas
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