This Tuesday Mastercard announced its collaboration with the crypto giant Coinbase. The companies have teamed up to finally solve a long-existing and extremely urgent issue of integrating Mastercards into crypto payments. The merge is beneficial for both brands, although Coinbase may feel the need for tried-and-true payment methods on the verge of its NFT marketplace launch.
Coinbase unveiled its plans to create the platform for minting and purchasing non-fungible tokens in late 2021. While many countries still face difficulties with the integration of bank debit and credit cards into crypto shopping, the Mastercard brand promises to make the lives of numerous NFT collectors easier.
According to the cryptocurrency exchange, the project paired with Mastercard will digitally educate people, telling them about digital assets. Thus, the collab will be bringing crypto into the masses, proving that absolutely anyone can go in for collecting and storing digital assets.
And, of course, safety, hassle-free everyday use, and data security are top priorities for both companies. “Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive. As it does, Mastercard sees even greater potential for NFTs’ underlying tech to go beyond art and collectibles into many more areas,” Mastercard’s executive vice president of digital asset and blockchain products Raj Dhamodharan said.
Though the collaboration will be featuring the NFT platform launch, there will be no festive drop to celebrate the memorable event. Both Mastercard and Coinbase refused to launch a non-fungible collection, considering such a way of celebrating a mainstream.
It's no secret that the first cryptocurrencies were created to serve exclusively the bank sphere but quickly leaked into the masses. As for proximity payments, modern society just can't imagine their lives without plastic bank cards and especially the opportunities they offer for online shopping. Non-fungible art tokens, as well as cryptos, available for purchase using a regular Mastercard, will be the next big step towards the rapidly approaching Metaverse.