Coinbase has announced its new NFT (non-fungible token) marketplace will take Mastercard payments.
In Brief:
Coinbase NFT will be a peer-to-peer marketplace for NFTs.
Normally, people have to have cryptocurrency in a crypto wallet to purchase an NFT.
Now, customers will be able to buy one directly with their Mastercard.
What does this mean?
Coinbase and Mastercard are working to have NFTs classified as “digital goods” so that they can be purchased in fiat currency.
Coinbase says on its blog: “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.”
Mastercard comments: “We’re working to make NFTs more accessible because we believe tech should be inclusive. When more people are included in new technologies, it spurs innovation, helps economies grow and expands choices for consumers.”
