Opensea Enables Credit Card Payments For NFTs

OpenSea the NFT marketplace has enabled direct card payments on its platform through MoonPay. Simplifying the process of acquiring an NFT for those who don’t own crypto. 

iexclusivenews reports that the collectors will be able to pay directly via Visa, MasterCard, American Express, Apple Pay, Google Pay, among other methods.

Without having to convert to specific cryptocurrencies first, a MoonPay spokesperson told The Block.

This online news outlet understands that the move is set to expand the marketplace’s customer base to more non-crypto natives.

All NFTs are supported natively on OpenSea, and all deliveries are handled on-chain.

Which means OpenSea users don’t have to leave the platform to pay.

And they aren’t tethered to a custodial ledger or required to utilize a certain token.

The disadvantage of paying via credit card is that it may cost more due to additional fees.

This payment method is applicable to both primary and secondary NFT sales, including minting and first drops.

iexclusive News Nigeria reports that the service will be given out in stages to different groups of users, according to MoonPay.

Those that use OpenSea will have to keep their NFTs in their own wallets.

MoonPay’s plug-and-play solution for purchasing and selling NFTs using a credit card was initially introduced in January.

The announcement comes as Mastercard announced a partnership with Coinbase to allow customers to purchase NFTs with their debit and credit cards.

This is the latest in a series of initiatives aimed at making NFTs more accessible to the general public.

Mark Zuckerberg, the CEO of Meta, indicated earlier this month that Instagram would try to include NFTs “over the next several months.”