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Mastercard’s payments network now open to NFTs and Web3

Mastercard Inc said on Thursday that it was collaborating with a number of NFT marketplaces and web3 infrastructure providers in an attempt to facilitate the process of purchasing NFTs.

The company said it was working with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and MoonPay to make the process easier and safer.

Mastercard card holders will be able to use their cards to buy NFTs and take advantage of crypto services on those platforms without the need to purchase cryptocurrencies first.

“For NFT creators, these changes grow their potential customer base to millions more people all over the world,” Raj Dhamodharan, Mastercard’s head of digital asset and blockchain products, said in a statement.

“With 2.9 billion Mastercard cards worldwide, this change could have a big impact on the NFT ecosystem,” Dhamodharan added.

Mastercard had announced earlier this year a partnership with cryptocurrency exchange Coinbase Global Inc to make NFT purchases on its platform easier.

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