Web3: Buying NFTs with your bank card, the new Mastercard project

News hardware Web3: Buying NFTs with your bank card, the new Mastercard project

More and more world famous companies are incorporating NFT technology in their strategy to derive their products in digital version. With the arrival of a multitude of collections of non-fungible tokens with various licenses, a new type of clientele is appearing on the web3. The opportunity for one of the largest American payment system companies to offer its services, namely the use of Mastercard cards in the purchase of non-fungible tokens.

The race to Web3 for large companies

Despite a fall in the total capitalization of NFTs in recent times, the phenomenon still represents tens of billions of euros. That is to say, if we add up all the value of the NFTs of each collection on the market, we obtain this figure.

A still very substantial market capitalization which is attracting more and more big brands, outside the crypto ecosystem, to review their virtual strategies by developing new Web3 friendly consumption modes.

From Marvel, via Lacoste to Looney Tunes, all these brands are experimenting with web3 with more or less interesting NFT collections.

In addition to speculators, these new kinds of product inexorably attract genuine fans of these licenses to take an interest in non-fungible tokens. New customers who may be discouraged when they are not necessarily familiar with crypto wallets or the gas costs associated with an NFT transaction.

Mastercard an operational payment company for Web3

In 2021, the global payment company offered its customers the possibility of using cryptocurrency payment cards.

This time, it was the growing demand around NFTs that made the North American payment company react.

This once again demonstrates its involvement in web3 by soon offering its customers the possibility of buying overpriced “jpegs” (or other more useful NFTs).

With these new features, the company intends to affirm its expansion in this area against its two other competitors Visa and Unionpay.

Mastercard has announced the imminent deployment of a payment network dedicated to the NFT market.

The initiative is supported by a Mastercard survey carried out in 40 countries with a sample of 35,000 people. Of those surveyed, 45% revealed that they had purchased an NFT or were considering doing so. Of this percentage some were looking for a new way to pay their NFT.

The company, aware of the lack of accessibility of the cryptosphere, wants to overcome these technical details by offering more intuitive solutions for its users.

With this in mind, Mastercard has announced its goal of creating a simplified and safer network to facilitate token purchases and reduce the risk of scams.

To carry out this project, Mastercard has partnered with 7 renowned web 3 companies:

  • Immutable X
  • Candy Digital
  • The Sandbox
  • shabby
  • Spring
  • Nifty Gateway
  • moonpay

These partnerships will allow people to use their Mastercard cards on these different platforms to buy their NFTs. With nearly 3 billion Mastercards in circulation worldwide, this is a giant leap for the NFT industry.

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Web3: Buying NFTs with your bank card, the new Mastercard project

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