NFT Titan OpenSea to Support Credit Card Payments

NFT Titan OpenSea to Support Credit Card Payments


Share this article

OpenSea is following on the heels of several competitors to add support for fiat payments. 

OpenSea to Accept Card Payments

The world’s biggest NFT marketplace is about to make it a lot easier for users to get hold of non-fungibles. 

OpenSea will now support credit and debit card payments through a partnership with MoonPay. The NFT titan, which recently hit a $13.3 billion valuation in its Series C funding round, will integrate MoonPay’s NFT Checkout service to allow instant credit and debit card purchases, MoonPay announced in a Friday blog post. Previously, OpenSea users had to get hold of cryptocurrency to buy NFTs on the marketplace. Most OpenSea NFTs are minted on Ethereum, which also caused user experience issues due to the network’s high gas fees. MoonPay is hoping to address that issue “to make NFTs accessible to everyone.” The rollout will happen in phases and allow users to buy NFTs with MasterCard, Visa, Apple Pay, and Google Pay. 

The OpenSea update closely follows competitor Nifty’s partnership with MoonPay to support fiat payments. Another of OpenSea’s rivals, Nifty Gateway, has long supported card payments. Though Coinbase NFT hasn’t yet launched, it also says it will allow MasterCard payments for NFTs when it finally goes live. 

Binance

As the NFT market has exploded, thousands of new crypto entrants have flocked to the technology. By allowing what crypto enthusiasts call “fiat” payments, OpenSea will be hoping to usher in mainstream adoption while addressing the countless user experience issues it’s dealt with amid the boom. OpenSea saw a staggering $14 billion of trading volume in 2021, and demand hasn’t slowed since, but it’s come under fire following major vulnerabilities and bugs that resulted in users losing their high-value NFTs. In the most high-profile attack in February, a thief stole about $3 million worth of NFTs from OpenSea users who had inadvertently approved crypto transactions that let the perpetrator drain their wallets. Among the pieces stolen were so-called “blue chips” from the Bored Ape Yacht Club and Azuki collections. 

MoonPay has also been paying close attention to Bored Ape Yacht Club, which is now the world’s most sought-after NFT collection. It facilitated Bored Ape sales for celebrities like Jimmy Fallon, Post Malone, and Paris Hilton, bringing mainstream attention to the cartoon monkeys and the promise of the technology itself. 

Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

NFT Express: Your on-ramp to the world of NFTs

At Tatum, we’ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy…

OpenSea NFT Hack Exposes Web3 Self-Custody Risks

The hacker stole hundreds of high-value NFTs from sought-after collections like Bored Ape Yacht Club, Azuki, and NFT Worlds.  OpenSea Users Targeted in NFT Hack  A hacker stole millions of…

OpenSea Saw a 646x Increase in Trading Volume in 2021

The NFT marketplace OpenSea has registered a colossal $14 billion in trading volume throughout 2021, far outpacing its 2020 performance of $21.7 million. OpenSea’s Breakout Year 2021 will go down…

Azuki NFTs Doubled in Price. Then Holders Got an Airdrop

Azuki has airdropped 20,000 “something” NFTs to its holders. The new NFTs currently have a floor price of 3.14 Ethereum on the secondary market, putting the cumulative value of the…



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest