Mastercard works with Coinbase NFT! Debit and debit cards can be purchased directly from NFTs.

Coinbase, a cryptocurrency exchange, officially declared on the 18th that it had signed an agreement with MasterCard, and on Coinbase's upcoming NFT platform, direct access would be made possible by a home-issued card (card credit card, check card). It's necessary. , consumers do not need to buy cryptocurrency to use this payment service.

Swipe the card directly to buy NFTs.

Coinbase executives say the partnership aims to reduce problems with the NFT process. Typically, to purchase NFTs, consumers must first create a cryptocurrency wallet and purchase cryptocurrencies before they can purchase NFTs through an online marketplace (like OpenSea). Coinbase has partnered with Mastercard to bring NFTs closer to the core world by interpreting NFTs as digital commodities, allowing consumers to interact directly with their card.

Raj Dhamodharan, Vice President of Digital Products and Blockchain Products at Mastercard, said: "Encouraging more people to participate in a safe and reliable way is probably the best solution. In fact, MasterCard Card believes that NFT technology can expand beyond the realms of entertainment and writing.

As previously reported, Coinbase announced the launch of its P2P NFT trading platform in mid-October last year, and more than one million daily registered users, but Coinbase NFT is still in the development phase. pre-registration of the free list. .

Analyst: Crypto application has increased further in traditional finance.

Coinbase isn't the first platform to improve the ability to buy coins by swiping the card, for example, Nifty Gateway has similarities, and Rarible lets you buy NFTs directly using Visa and Mastercard. However, the OpenSea platform leader wants to use third-party cash service MoonPay and cannot purchase fiat currency directly.

Mizuho Securities analyst Dan Dolev said the partnership between Coinbase and Mastercard is a model for the future to break away from traditional speculation. However, in the long term, blockchain and DeFi technology may still affect the whole (traditional financial) ecosystem making it threatening and difficult for the third-party payment concept.