Fintech Company MoonPay Seeks More Conventional NFT Buyers For OpenSea With Credit Card Payment Method 2Q 2022

51 sec read

Why pay cash when you can say “charge it!”? Credit card holders who own zero cryptocurrency will soon have a new way to purchase NFT offerings through the biggest NFT purveyor.

On OpenSea, the world’s top NFT marketplace, users will soon be able to buy NFTs using credit cards, Apple Pay, and Google Pay – without being required to hold any cryptocurrency.

The feature comes through a partnership with MoonPay, a fintech company that is working to build out the crypto space’s payment infrastructure.

With the new payment options, OpenSea aims to attract more conventional buyers. February and March saw a decrease in total NFT sales despite January bringing in an all-time record of $5 billion in total NFT sales.

Payments in fiat will cover primary NFT sales, including minting and initial drops. The feature will be released to sections of the OpenSea user-base in phases. The downside of the new feature is that purchasing NFTs using credit and debit cards will be more expensive due to the additional fees associated.

Last week, OpenSea also announced that it will begin listing Solana NFTs in April, resulting in a 21% surge in the price of SOL price over the last seven days.

The NFT marketplace is worked to further leverage its dominance in the NFT space in order to bring NFTs to a larger general audience.

Via this site