Blockchain

Making it easier for everyone to buy NFTs

January 18, 2022 | By Raj Dhamodharan

Buying digital goods should be as simple as buying a T-shirt or coffee pods on an e-commerce site. You can make your purchase with one click — that's it.

That’s not the case for many NFTs, or non-fungible tokens. Today, if you want to buy an NFT — such as a digital art piece — you first need to open a crypto wallet, buy crypto, then use it to purchase an NFT in an online marketplace.

Cryptocurrency enthusiasts are used to this process. But for most people, it's not simple, it’s not intuitive. We think it should be much easier. That will ensure NFTs can be for everyone.

As an important step in this mission, we’re excited to announce today that we’re partnering with Coinbase to let people use their Mastercard cards to make purchases on Coinbase’s upcoming NFT marketplace.

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.

For NFTs specifically, many of these digital goods are created by musicians, artists and video game designers. Expanding the audience for NFTs allows this burgeoning market to support more creators and could spark the next evolution of digital commerce.

Getting more people involved safely and securely is perhaps the best way to help the NFT market thrive. As it does, Mastercard sees even greater potential for NFTs’ underlying tech to go beyond art and collectibles into many more areas. 

We’re also excited to bring to the table all our cybersecurity capabilities to ensure Mastercard customers’ data is protected and the NFTs they buy are secure. This is an important way to welcome everyone into this new space.

We look forward to playing a big part in making that happen in partnership with the industry.

Just make your purchase, get the digital goods you want and get on with your day.

It can be that simple. We’re happy to make sure it is.

Photo of Raj Dhamodharan
Raj Dhamodharan, EXECUTIVE VICE PRESIDENT, DIGITAL ASSET & BLOCKCHAIN PRODUCTS & PARTNERSHIPS