MoonPay, a crypto payments platform, has launched the world’s first credit card for NFT purchases. It empowers people to buy NFT without having to use crypto. The plug-and-play service is available to brands, marketplaces, and creators.
Ivan Soto-Wright, MoonPay’s CEO, says they have already radically simplified cryptocurrency transactions. He highlighted that NFTs were their obvious next step. MoonPay knows that NFTs have the potential to transform the way companies build, strengthen and maintain powerful human connections. It’s for everyone and anyone who is ready to become part of the powerful movement.
Soto-Wright revealed that MoonPay’s NFT checkout initiative classifies the tokens as digital goods. The approval rates of NFT checkouts cards are higher than the standard crypto on-ramps – the former facilitates sales three or more times higher. Previously, people wanting to buy NFTs had to go through a tedious series of payment schemes. It included purchasing the requisite crypto before exchanging it for the NFT.
With MoonPay’s card, the process is easy and simple. Users have to pay less fees and there is an easier verification process. Moreover, users get the tokens directly delivered to their on-chain wallet addresses. All regulatory and charge book obligations are observed by MoonPay.
Soto-Wright said the NFT marketplace is currently limited to those who own cryptocurrencies. But MoonPay’s Checkout has given the opportunity to billions of people who own credit cards. It has made ownership simple and fast. Coinbase had come up with a similar offering. It had partnered with MasterCard to enable people to buy from the crypto exchange’s upcoming NFT marketplace using.