Top US-based cryptocurrency exchange Coinbase and financial services giant Mastercard have announced a new partnership to promote and revolutionize the non-fungible token (NFT) purchasing experience.
According to a blog post published by Coinbase on January 18, Coinbase is joining forces with Mastercard to make it easier for people to join the NFT community. The joint goal is to classify NFTs as “digital goods,” thereby allowing a broader group of consumers to purchase NFTs.
The announcement also claims that Coinbase will soon “unlock a new way to pay” using Mastercard cards, without providing further detail.
The partnership comes in the wake of Coinbases’s recently announced Coinbase NFT, a peer-to-peer marketplace that will allow for minting, purchasing, showcasing and discovering NFTs. Coinbase says working with Mastercard will provide a better customer experience on the new platform, in addition to creating new ways to offer NFTs through Mastercard’s scale and global network.
Coinbase notes that NFTs play an important role in fulfilling the exchange’s mission to “increase economic freedom in the world,” by enabling more people to join the creator economy and profit from their work. The company has highlighted accessibility and consumer experience as two particular points of focus in growing NFT and crypto adoption.
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