Gone are the days when you had to be a crypto nerd to accomplish operations in the blockchain. Until recently, users first had to create and install a crypto wallet and register on exchanges to make cryptocurrency and NFT transfers. As the market evolves, more companies and brands are doing their best to simplify the process, making it accessible to non-crypto audiences.
As proof of that, the leading web3 fintech company MoonPay has recently joined efforts with the multichain NFT marketplace Magic Eden to draw more people into the NFT ecosystem. This strategic partnership will make it possible for Magic Eden users to buy NFTs of multiple blockchains using their good-old credit or debit card, Apple Pay, Google Pay, and beyond.
The web3 realm “benefits from an increasing number of active users that engage with the technology,” Bree Blazak, VP of global sales at MoonPay, commented on the collab, adding, “Traditional payment options are a gateway for non-crypto native users to engage in the space.”
According to Zhuoxun Yin, COO and co-founder of Magic Eden, dipping a toe into web3 can be challenging for newcomers. “That’s why we’re working closely with brands, creators, and ecosystem builders to integrate tools that make it easier for users to navigate web3 and bring new use cases for NFTs that will attract new users to the space,” Zhuoxun Yin said.
Additionally, Magic Eden and its partners are launching educational resources and blogs to assist new users in debunking the myths around web3, alongside inducing trust and safety. The materials will provide full-fledged information about self-custody and choosing the right digital assets and communities.
Finally, the integration aims to expand the coverage of digital assets from the hundreds of millions of crypto enthusiasts to billions of bank card owners.
This year has brought a long-awaited thaw to the crypto ecosystems. Let's wait and see whether the strategic partnership between MoonPay and Magic Eden will draw billions of new users to web3.