Financial service provider Mastercard will join the crypto exchange platform Coinbase to help customers purchase NFTs with fiat currency.
While non-fungible tokens have been booming for the last couple of months, the processes of purchasing them are still tedious, or even unknown for some; especially those who try to buy NFTs from high-end collections such as the Bored Ape Yacht Club.
According to the blog post by Coinbase, the collaborative project will introduce users to the ins and outs of purchasing, selling, and trading NFTs. Likewise, there will be a new payment option that lets customers purchase non-fungible tokens via Mastercard credit and debit cards.
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Not only that, the collaborative efforts of both entities will look for ways of making virtual collectibles more formal by "classifying NFTs as 'digital goods', allowing a broader group of consumers to purchase NFTs."
Coinbase is known to have a learning platform that pays a small fraction of crypto just for studying topics on, for instance, Bitcoin. By partnering with Mastercard, the two will try to make things easier for people interested in art-based digital assets.
