MasterCard partners with Sandbox and more for NFT

Global payments giant MasterCard has recently announced that they are partnering up with The Sandbox, Nifty Gateway, and Mintable for a simple NFT purchasing mechanism. Moreover, the payments giant is aiming to “bring its payments network to Web3.”

According to their blog post, MasterCard has partnered up with several NFT marketplaces. These include Immutable X, Candy Digital, The Sandbox, Mintable, Spring and Nifty Gateway, and MoonPay.

Integration of such sort will enable users to purchase NFTs in an ‘easier and safer’ manner via their cards. This will eliminate the need for converting fiat money into crypto.

MasterCard claims that all these NFT marketplaces combined generated more than $25 billion in sales. More surprising is the fact that MasterCard has only accounted for the total sales in 2021 alone.

Raj Dhamodharan, executive vice president of Digital Asset Blockchain Products stated:

“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.”

According to MasterCard, allowing support for NFT purchases will deliver “exactly what people want.” To prove these claims, the payment giant conducted a survey of more than 35,000 people in 40 countries. They found out that about 45% of respondents had purchased an NFT or are considering it.

Moreover, they found that almost half spoke in favor of more flexibility in payment options. In fact, Mastercard’s results portray a similar image that the Deloitte survey where 85% of businesses stated giving priority to incorporating crypto payments.

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