Mastercard announces new crypto partners for its NFT payments service

Mastercard has announced plans to expand card payments' access to the non-fungible token (NFT) market.

Mastercard NFT
Mastercard NFT

Raj Dhamodharan, an executive vice president of the company, stated in a that it had worked with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay to facilitate NFT commerce.

"We're working with these firms to allow users to use their Mastercard cards to acquire NFTs, whether on one of these companies' marketplaces or through their crypto services," he explained.

Furthermore, he says, "With 2.9 billion Mastercard cards in circulation worldwide, this shift has the potential to have a significant influence on the NFT ecosystem."

Mastercard has already been collaborating with Coinbase to add cash payments to its recently announced NFT platform.

According to Dhamodharan's blog article, a recent Mastercard study of more than 35,000 people from 40 countries indicated that 45% of respondents had purchased or would consider purchasing an NFT, and that around half desired more flexibility.

“Overall, these integrations are designed to make crypto more accessible and help the NFT ecosystem keep growing, innovating, and bringing in more fans,” he said.