Coinbase to Allow NFT Purchase with Mastercard
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Jan. 18, 2022

Cryptocurrency exchange Coinbase has announced that users on its NFT marketplace will be able to purchase digital artworks with Mastercard cards. While the exchange did not specify the terms of the partnership, it said NFTs represent "digital goods", allowing a broader group of consumers to purchase the tokens.

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"Coinbase wants to simplify the user experience to allow more people to join the NFTs community," the exchange wrote in a blog post.

Wikipedia Won't Define NFTs as Art, Cites 'Lack of Reliable Information'

However, the idea of buying NFTs is nothing new as the other marketplace called Rarible added support for Visa and Mastercard back in September 2021. To integrate fiat money into the NFT space, Rarible partnered with Wert, a licensed virtual currency provider. The option allows users to pay for NFTs directly with a credit card in 190+ countries.

As iHodl earlier reported, Coinbase is working with Ethereum Name Service on its approach to simplify the usage of multiple metaverses. As Coinbase CEO, Brian Armstrong, wrote in a blog post, the company is working on a unique username NFT that resolves to a wallet. The technology will allow users to carry a unique ID across different worlds in the metaverse, Armstrong says.

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