Coming soon: Direct NFT purchasing for Mastercard’s 2.9B cardholders

Written By Simon Mwebaze

The NFT tribe has spoken!

After a survey of 35,000 customers in 40 countries, Mastercard discovered that as many as 45% of respondents had already bought an NFT – or would consider doing so. More so, approximately 50% spoke in favor of more flexibility in payment options.

What does that mean? Customers want the capability to use cryptocurrencies for everyday purchases, or to use their credit or debit card to buy an NFT.

Mastercard has listened. Now, it’s bringing the capability to pay for NFTs using fiat currencies. To make this possible, it partnered with several organizations, including Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and MoonPay.

“We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether that’s on one of these companies’ NFT marketplaces or using their crypto services,” Mastercard EVP Raj Dhamodharan said. “This change could have a big impact on the NFT ecosystem.”

Mastercard had already been paving the way for this move. In February, it added payments-focused consulting services for banks and merchants that cover everything from cryptocurrencies and NFTs to crypto cards and loyalty programs. In April, it filed for 15 metaverse and NFT-related trademarks. Then, in May, it went live with its collaboration with Coinbase to allow customers to use their credit cards to buy NFTS directly.

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