Key takeaways:
- Mastercard is expanding its payment processing network to a number of Web3 platforms and crypto services
- The list of companies working with Mastercard includes The Sandbox, Mintable, and Immutable X, to name a few
- Mastercard has announced several Web3 initiatives over the past year
Mastercard wants the NFT buying experience to be “easier and safer”
Leading payment network Mastercard has announced it is working on expanding its services to the Web3 space to make NFT commerce “easier and safer”. To achieve this goal, Mastercard has joined forces with some of the industry-leading companies, including Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay.
According to the official announcement, users will be able to make use of Mastercard’s payments solutions at collectibles marketplaces ran by the aforementioned companies and using their “crypto services”.
This is not the first time that Mastercard has tried to make inroads with the rapidly growing Web3 space. Recall that earlier this year, the payment giant partnered with Coinbase to make NFTs more accessible ahead of the launch of Coinbase’s own NFT marketplace in April.
As a sign of a deeper commitment to Web3, Mastercard filed for NFT and Metaverse-related trademarks in mid-April, which were based on the company’s name, the iconic circles logo, and the “priceless” slogan commonly used in its commercials
The integration of the Mastercard network with some of the leading cryptocurrency companies reportedly comes in response to users’ demands. Case in point, a recent survey conducted by Mastercard showed that roughly 50% out of 35,000 respondents want more flexibility and the ability to pay with crypto with their credit card.
