Coinbase, the leading Crypto exchange platform has partnered with Mastercard to ease commerce in the NFT Marketplace. Buying NFTs is a very daunting process and so is uploading one. The prerequisite to have a wallet in the available marketplace deters many artists and buyers alike. Currently if a buyer wants to purchase an NFT, they need to create a Crypto Wallet that supports NFT storage. The prospect buyer then needs to buy relevant cryptos for purchase in some of the most reverberant marketplaces like Opensea, Solanart, Magic Eden etc.

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Mastercard aims to override all the hassles involved and simplify the overall purchase. It seeks to make it as simple as waving a card in the mall to buy candy or a coffee!

“Our mission at Coinbase is to increase economic freedom in the world. By enabling more people to join the creator economy and profit from their work, NFTs have an important role to play in this mission. . .” Prakash Hirmani, Sr. Director, Products, Coinbase, states in a medium blog.

Coinbase had previously announced in 2021, the launch of Coinbase NFT, terming it creative and creator first! Coinbase NFT seeks to put the art and artist’s experience at the forefront and thereby expand the creator economy.

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Mastercard’s Raj Damodaran stated about the partnership that it will enable Coinbase customers to use Mastercard credit and debit cards to make purchases on crypto exchanges’ upcoming NFT marketplace. Damodaran further adds, “Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive.

Competitors like Visa and American Express etal are also seeking to foray into the whole crypto marketplace.

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