American multinational crypto exchange Coinbase and global payment platform Mastercard have entered into a partnership to support the purchase of digital collectibles on NFT marketplaces.
Mastercard’s executive vice president for digital asset and blockchain products, Raj Dhamodharan, says the collaboration will help to increase the adoption rate for NFTs, and allow Mastercard credit cardholders to purchase non-fungible tokens on Coinbase NFT marketplace seamlessly.
Coinbase unveiled its NFT marketplace”Coinbase NFT” back in October 2021. So far, over one million potential investors have registered their names on the waiting list.
“Cryptocurrency enthusiasts are used to this process,” Dhamodharan said in a blog post. “But for most people, it’s not simple; it’s not intuitive. We think it should be much easier. That will ensure NFTs can be for everyone […] Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive.” he continued.
A few days ago, Mastercard’s fiercest rival, Visa, partnered with Consensys to bridge the gap between CBDCs and the traditional finance system.