Leading cryptocurrency exchange Coinbase has teamed up with payment processing giant Mastercard to simplify purchasing non-fungible tokens.
According to an official blog post today, Coinbase is planning to make it easier for newcomers to join the booming NFT market by employing a similar strategy as it did with its cryptocurrency exchange.
Despite the growth of NFTs in recent months, Coinbase said purchasing digital collectibles is still a complex experience for many users.
However, the digital asset platform has collaborated with Mastercard, and both companies will classify NFTs as “digital goods” to allow customers to purchase such collectibles with ease.
Meanwhile, Coinbase recently launched an NFT peer-to-peer marketplace dubbed Coinbase NFT.
The platform allows users to mint, purchase, sell, showcase, and discover digital collectibles.
By partnering with Mastercard, Coinbase hopes to unlock new ways for users to pay for NFTs using their Mastercard card in the future.
“Thanks to our work with Mastercard, we’ll be able to provide a better customer experience on Coinbase NFT, and plan on working to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network,” the crypto exchange said.