NFT Marketplace OpenSea Partners with MoonPay to Enable Direct Credit Card Payments for the Purchase of Non-Fungible Tokens (NFTs), Opening Doors for Investors Who Don’t Own Cryptocurrency, Reports Say .
People who want to buy, sell, trade and collect NFTs can pay directly with Visa, MasterCard, American Express, Apple Pay, Google Pay and other methods, without having to convert specific cryptocurrencies first, a source said. MoonPay spokesperson at Block Crypto. Payment Methods can be used for all sales on the OpenSeas Platform, including initial sales, primary sales, and secondary sales.
Although debit cards are currently accepted as payment, users still need to log into a digital wallet. With direct card payments in partnership with MoonPay, the process is simplified and no crypto or wallet is needed. According to Ethereum World News, the move is aimed at expanding OpenSea’s market to people who don’t have a native understanding of crypto.
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OpenSea customers pay directly on the platform and “are not tied to the use of a custodial ledger or required to use a specific token,” Block Crypto reported. NFTs on OpenSea are delivered on-chain and managed natively. People paying with cards may, however, be subject to additional charges.
The new payment feature is introduced to select users in stages, MoonPay told Block Crypto. MoonPay first launched the feature in January when Mastercard partnered with Coinbase to facilitate NFT purchases.
Opensea is the dominant NFT marketplace by transaction volume, according to Ethereum World, and recently announced that it is integrating Solana-based NFTs. In January, the company raised $300 million in a Series C funding round at a post-money valuation of $13.3 billion. In February, the platform processed $5 billion in trading volume, its highest level yet.
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MoonPay CEO Ivan Soto-Wright recently said that implementing fiat payment services could lead to widespread adoption.
“Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency. MoonPay’s NFT Checkout just opened the door for billions more credit card owners by making ownership both quick and easy,” he said, according to Ethereum World.