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NFT BITCOIN & CRYPTO

How Coinbase and Mastercard Are Reimagining NFT Deals

Coinbase’s NFT marketplace is nearly here. And soon, it will include support for making purchases with Mastercard, opening up the cyrpto collectibles world to new consumers.

Months ago, the question on everyone’s mind (and their Googling fingers) was simple: “What’s an NFT?”

These days, the queries have gotten more specific — “How do I buy an NFT?” “How do I sell one?” “Where is the token I just bought? — but confusion still remains among legions of laypersons about the easiest way to get into the world of crypto collectibles without getting dizzy or going crosseyed.

Coinbase and Mastercard announced on Tuesday that they’re here to help with precisely that.

“Coinbase wants to simplify the user experience to allow more people to join the NFTs community. Just as we helped millions of people access Bitcoin for the first time in an easy and trusted way, we want to do the same for NFTs,” wrote Prakash Hariramani, Coinbase’s Senior Director of Product. “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.”

The Coinbase NFT marketplace will provide an end-to-end community for non-fungible token enthusiasts, whether their goals are minting and selling, browsing and purchasing, or anything in between. And while full support for Mastercard transactions isn’t expected to be live on day one, it’s very much on the horizon — and represents a breakthrough in further democratizing the world of blockchain technology by lowering the barriers for entry for new users and skittish skeptics alike.

Added Raj Dhamodharan, Mastercard Executive VP of Digital Asset and Blockchain Products and Partnerships:

“We’re working to make NFTs more accessible because we believe tech should be inclusive. When more people are included in new technologies, it spurs innovation, helps economies grow, and expands choices for consumers.”

The Coinbase NFT community is coming soon. Click here to learn more about the project and find out how you can join the waitlist.

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