Finance
How will MasterCard’s Partnership with Coinbase Impact NFT Marketplaces?
Mastercard announced its partnership with Coin-
in terms of game developers and their game
base this week. For NFTs, MasterCard’s involve-
markets?
ment could help boost the global adoption of crypto-collectibles on the blockchain. However, actual
MasterCard enables the movement of money on
use cases for real-world goods might still be some
the blockchain. Buying NFTs with MasterCard
way off.
is much easier because there are no longer any transfer limits to worry about. Along with this, it
According to their website, MasterCard has creat-
also means that you can buy NFTs without having
ed a new business to handle crypto assets. The
to worry about your digital assets being stolen.
new unit, called MasterCard Blockchain, will reportedly collaborate with Coinbase’s engineering
Mastercard’s entry into the crypto industry makes
teams in order to integrate their services into the
it easier for people to build apps on ERC-721, which
digital asset space.
is great news for developers of games built on this standard. Although not all purchases will go
Impact on Crypto Markets
through MasterCard straight away, at least there are options now that NFTs can be used in regular
With this new partnership between MasterCard
commerce.
and Coinbase, buying NFTs will be so much eas-
22
ier. However, this will have quite some impact on
As for the game marketplaces, they can expect to
the crypto marketplaces. But, what can we expect
see more people purchase NFTs on their platforms.
