The world continues to be rebuilt digitally as Coinbase and Mastercard partner to make purchasing NFTs easier than ever.
“Coinbase wants to simplify the user experience to allow more people to join the NFTs community. Just as we helped millions of people access Bitcoin for the first time in an easy and trusted way, we want to do the same for NFTs.”
Coinbase is right! Buying NFTs isn’t always easy and there is a lot of friction for new users interacting with OpenSea. On the flip side, you have marketplaces like NBA Top Shot that have a great user experience but are mostly disconnected from the greater market.
The current NFT market has fragmented liquidity. This is because the NFT market infrastructure is underdeveloped. This is a step in the right direction to interconnect it all together.
Remember, everything of value will be represented on-chain as an NFT which could make it the biggest market in the world.
“That’s why we’re working with Mastercard to classify NFTs as “digital goods”, allowing a broader group of consumers to purchase NFTs. And, coming soon we’ll “unlock” a new way to pay using Mastercard cards.”
It’s interesting that Mastercard landed this deal. They are far behind Visa when it comes to Web3. Visa has an entire crypto team and is already building and testing on Ethereum.
This will help Mastercard catch up to Visa in a big way!
Anyways, what do you think about Coinbase and Mastercard teaming up?