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OpenSea joins hand with MoonPay to ease NFT transactions via bank cards

Customers of the world's largest NFT marketplace will soon be able to purchase digital art using MasterCard, Visa, Apple Pay, and Google Pay.

OpenSea, a non-fungible token (NFT) marketplace, has partnered with MoonPay, a crypto-focused payment solutions provider, to incorporate direct credit and debit card payments on its platform. MoonPay CEO and co-founder Ivan Soto-Wright in a statement issued on April 1 said their goal is to free ownership and bring the world on same page with Web3. They must simplify the method as much as feasible in order to be effective. The same has been done for cryptocurrencies by MoonPay. They’re currently doing the same with NFTs in conjunction with Opensea.

According to the statement, the cooperation would allow OpenSea consumers to purchase NFTs using payment methods like MasterCard, Visa, Apple Pay, and Google Pay using MoonPay’s NFT Checkout service.

According to MoonPay, the integration of these new payment methods will take place in stages and will allow OpenSea customers to simply purchase an NFT using a debit or credit card, without the need to first acquire bitcoin.

MoonPay’s NFT Checkout service launched on January 27 and was billed as the industry’s first NFT plug-and-play solution that allows customers to quickly purchase an NFT with a credit or debit card. MoonPay added

“By broadening the reach of NFTs to anybody who can pay with a card, they’re not just drastically expanding NFT adoption: they’re also opening up new revenue streams for businesses, new royalty sources for artists, and bringing the benefits of NFTs to a far bigger brand ecosystem.”

Similarly, Nifty Gateway, a digital art online auction site, has been accepting card payments for some time. The future Coinbase NFT marketplace also collaborated with MasterCard in January, ahead of its rumoured launch later this year.

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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