Payment giant Mastercard will allow its cardholders to purchase non-interchangeable tokens (NFT). To do this, the company has signed agreements with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and MoonPay. Mastercard cardholders will be able to buy NFT on platforms owned by new partners without having to purchase cryptocurrency in advance. Raj Damodaran, vice president of the company, said: “We are working with these companies to allow people to use Mastercard cards to purchase NFT on partner trading platforms or using their cryptocurrency services. Since there are 2.9 million of our cards worldwide, this change may have a greater impact on the NFT ecosystem.” He also noted that a survey conducted by the payment system among over 35,000 people in 40 countries showed users’ interest in non-interchangeable tokens. 45% of respondents said that they have purchased NFT or are going to do it.
The convenience of buying unique tokens and Web3 assets in general may soon reach a new level. The fact is that Mastercard is preparing to provide its customers with the opportunity to quickly purchase NFT tokens using the card at several trading platforms at once. The official announcement of the payment company refers to a partnership with the platforms Immutable X, Candy Digital, The Sandbox, Mintable, Spring and Nifty Gateway. In addition, Mastercard has added support for an infrastructure provider for Web 3 called Monkey. We tell you about what is happening in more detail.
Note that sometimes NFT is associated with illegal activities. In particular, last month we learned about the sale of a popular non-interchangeable token from the Bored Ape Yacht Club collection for only the equivalent of $ 200, although its real value is estimated at hundreds of thousands. Most likely, this was necessary for tax evasion, because in this case there will clearly be no profit from the asset. Read more about the story in a separate article.
However, such isolated cases do not confuse Mastercard representatives. They want the owners of the relevant cards to be able to purchase SO quickly and easily.
Integration with Web 3 will allow users to buy unique tokens “more easily and securely” using their Mastercard cards, rather than cryptocurrencies. According to Decrypt sources, together the aforementioned trading platforms generated more than $25 billion in trading volumes in 2021. This includes NFT, digital art, and metaverse projects.
Mastercard also claims that thanks to NFT’s support for direct purchases, the company will provide “exactly what people want.” The financial provider referred to its recent survey of more than 35 thousand people in 40 countries, which showed that up to 45 percent of respondents have already purchased unique tokens or are going to do so. Dhamodharan himself admits that taking into account the number of Mastercard cards issued worldwide — there are more than 2.9 billion units — the announcement can give a huge boost to the development of the NFT sphere.