OpenSea, a popular NFT marketplace, has added credit card transactions to its list of payment alternatives. To facilitate direct credit card payments, the business has teamed with payments infrastructure startup MoonPay.
OpenSea will employ MoonPay’s new NFT Checkout solution, which allows customers to purchase an NFT instantaneously with a debit or credit card, according to a blog post published by the payments firm on Friday. This payment mechanism covers both main and secondary sales.
Ivan Soto-Wright, MoonPay’s co-founder and CEO, stated:
“To be successful, we have to make the process as simple as possible. MoonPay has done that for crypto. And now, in partnership with Opensea, we’re doing it for NFTs as well.”
Users will be able to purchase NFTs using Visa, MasterCard, American Express, Apple Pay, Google Pay, and other payment methods as part of the new partnership. Both firms want to introduce the functionality in stages.
While OpenSea intends to accept fiat payments, many established businesses and brands consider incorporating cryptocurrency into their organizational and payment structures. For example, premium Italian fashion label Off-White has announced that its flagship boutiques in London, Paris, and Milan would accept bitcoin payments.