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Coinbase Mastercard partnership plans to classify NFTs as Digital products


Coinbase digital currency exchange platform has partnered with financial giant Mastercard to transform the NFT buying experience.

Due to this deal, customers can use Mastercard credit and cash cards to make buys in Coinbase’s future NFT marketplace. The partners cooperate with each other to classify NFTs as “digital products” to motivate further customers to buy NFTs.
“Coinbase aims to make the user experience easier so that more people can join the NFT community,” according to the announcement. It plans to spread its success in aiding millions of people access Bitcoin for the initial time. This time, the platform will extend the scope of NFTs to the mass market.
The previous year, Coinbase revealed the launch of the peer-to-peer marketplace Coinbase NFT. The leadership group is sure that they can present a better customer experience with Mastercard in the image. The difficulty of purchasing NFTs keeps being the largest obstacle to access for new users. Presently, to make a transaction in an NFT marketplace, customers must first open and fund a crypto wallet. Thus, Mastercard will be an alternative and easier way to buy NFTs.

“Engaging more people in a safe and secure way may be the best way to help the NFT market thrive,” stated Raj Dhamodharan of Mastercard. As it turns out, Mastercard sees more potential for NFT’s infrastructure technology to go beyond art and collectibles into many more spaces.

Likewise, VISA’s main competitor has more than 60 partnerships with crypto companies, like Coinbase. At the same time, American Express mentioned that it uses its cards and network to explore with stable coins. Anyway, CEO Stephen Squeri lately told Yahoo Finance that consumers should not wait to see an Amex-related cards so soon.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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