Children can now Steal their Parents Credit Cards to buy NFTs
Mastercard to Allow Buying NFTs With Credit Card
Another pump of faith into the crypto community came as MasterCard announced it will bring its payments network to Web3 and make buying NFTs possible with its debit and credit card.
Executive Vice President of Digital Asset Blockchain Products and Partnerships, Raj Dhamodharan, released the news on a website post, more specifically, a blog titled Simple NFT Purchasing.
In the post, the company states they believe the way people buy and sell NFTs should be made easier and safer for customers all over the globe.
“We’ve been innovating over the past year to make these improvements happen. As part of this work, we’re happy to announce we’re working to enable NFT commerce with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay.
We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether that’s on one of these companies’ NFT marketplaces or using their crypto services. With 2.9 billion Mastercard cards worldwide, this change could have a big impact on the NFT ecosystem.”
The post read.
MasterCard’s ultimate goal is to use their integration to make NFTs “more accessible and help the NFT ecosystem keep growing, innovating and bringing in more fans.”
During the run of 2021 and early 2022, investors had to first buy crypto assets such as Solana or Ethereum to then purchase the NFT of choice. Now, MasterCard carried out a survey of the digital payment landscape by polling nearly 45,000 individuals in 40 different countries and found that 45% of people would be interested in buying NFTs or have already done so.
Nearly half of those respondents wanted more flexibility in being able to buy NFTs. MasterCard suggests using debit cards or credit cards.
A dozen or so NFT patents and metaverse-related trademarks with the United States Patent and Trademark Office have been filed by MasterCard as reported in May 2022.
The full suite of capabilities to reinforce customer safety will be applied to MasterCard purchases of NFTs. This will make NFTs more secure for beginners and less prone to scams.