Dominic Kimani
Magic Eden, the digital market platform for Solana and Ethereum NFTs, has partnered with blockchain-powered payment platform Moonpay to offer more new payment options for purchasing non-fungible tokens.
Magic Eden To Let Its Users Buy NFTs Using Credit Cards
In a February 14 press release, the Magic Eden NFT market platform confirmed partnering with the Web3 payment firm Moonpay to offer more new payment options for purchasing digital collectibles.
Founded in 2019, MoonPay is a financial technology company that builds payments infrastructure for crypto. It’s renowned for offering a fast and simple way to buy and sell crypto using credit cards. The fintech firm is available in more than 160 counties around the world.
Under the new integration, Magic Eden anticipates leveraging MoonPay payment infrastructure to allow its customers easily purchase NFTs across chains using Apple Pay, Google Pay, debit, or credit card.
According to the announcement, the goal of the recent strategic partnership is to make the process of onboarding new users easier. While commenting about the new integration, Zhuoxun Yin, the chief operating officer at Magic Eden NFT Marketplace, remarked:
“Our goal is to make NFTs accessible to everyone, enabling individuals to own and control their digital assets. And now, with our partnership with MoonPay, we’re even more excited to lower the barriers to entry into the exciting world of Web3, democratizing access to these transformative technologies.”
Other MoonPay Crypto And NFT Integrations
In the past several months, MoonPay has been exploring various strategies to help crypto users purchase crypto and NFTs on-chain. In June 2022, the payment firm inked a partnership deal with Mastercard to allow customers to purchase NFTs directly with a credit card.
Last week, the fintech firm signed a partnership deal with LookRare NFT marketplace letting users purchase NFTs using credit cards. The partnership enabled users to buy NFTs using a debit or credit card without necessarily purchasing crypto tokens first.
It’s worth noting that the company raised more than $500 million in November 2021, which has allowed it to continue building strategic partnerships. Since then, MoonPay has successfully signed several partnerships with notable crypto firms, including BitPay, Uniswap, and TRLab NFTs, among many others.
Related
- LooksRare Teams With MoonPay To Let Users Buy NFTs With Credit Cards
- Magic Eden NFT Marketplace Lays Off 22 Of Its Staff, Cites Company Restructuring
- Magic Eden NFT Marketplace Review 2023
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This article was written for Business 2 Community by Dominic Kimani.
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