Coinbase & Mastercard Partner On NFT Purchases

January 18, 2022

Coinbase Global Inc (NASDAQ:COIN) announced on its blog Tuesday that it has teamed up with Mastercard Inc (NYSE:MA) to "revolutionize" the NFT purchase experience.

The cryptocurrency exchange said they are working with Mastercard to classify NFTs as "digital goods" to allow more consumers to purchase them. Also, the companies are working on a way of purchasing NFTs using Mastercard cards.

Coinbase recently announced its NFT marketplace, aptly named "Coinbase NFT," that will allow users to mint, buy and sell NFTs.

"Thanks to our work with Mastercard, we’ll be able to provide a better customer experience on Coinbase NFT, and plan on working to find ways to bring this opportunity to the broader ecosystem through Mastercard’s scale and global network," Coinbase said in its blog post.

Coinbase shares are down 3.5% Tuesday, while Mastercard shares are also down by 1%.

SOURCE: Investing.Com
IMAGE SOURCE: Reuters

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