Coinbase Announces Superdeal With Mastercard Ahead of NFT Market Launch

• Coinbase has announced a partnership with Mastercard that will allow card payment on its upcoming NFT marketplace

• The collaboration will allow buyers to purchase NFTs with fiat currencies using Mastercard credit or debit card

• The marketplace called Coinbase NFT hasn’t gone live yet but the company has a waitlist that users can sign up for to get early access

Cryptocurrency exchange Coinbase Global Inc. has announced that it will allow users to make purchases on its future NFT marketplace using their Mastercard cards.

The collaboration between both parties means that users don’t have to purchase cryptocurrencies before purchasing an NFT online.
Although the NFT marketplace hasn’t gone live yet, people who want to use the platform can sign up on the exchange’s waitlist for early access. So far, more than 2.5 million people have registered on the waitlist since it was announced in October last year.
The NFT market named Coinbase NFT will rival other leading platforms such as Opeansea, Axie, and Larva Labs.

Under the partnership, Mastercard will classify Non-fungible tokens as digital goods and will allow cardholders to make purchases through debit and credit cards.
However, buyers will still require a cryptocurrency wallet to store the NFT after purchase.

Read also: Microsoft to Buy Call of Duty Company Activision in $70bn Deal

The NFT market has become one of the hottest corners in cryptocurrency, with a market capitalization of more than $44 billion.

This has pulled in more business giants looking to capitalize on the growing sale of digital art. Recently, trademark filings from Walmart revealed that the retail giant is also looking to sell its own collection of NFTs.

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