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- Non-Fungible Tokens (NFTs) continue to attract significant entities as the concept is constantly gaining traction.
- The payments firm Mastercard is moving forward in the world of Non-Fungible Tokens (NFTs).
- Mastercard plans on a collaboration with several popular names in the industry like The Sandbox, Candy Digital, Immutable X, Nifty Giveaway, etc.
Mastercard, a prominent name among the payments companies, has opened up the gates of its network further for more Non-Fungible Tokens (NFTs), as signified through a recent press release.
The payments giant has got into deals with various significant names in the Non-Fungible Token (NFT) sphere, for instance, The Sandbox, Candy Digital, Immutable X, Nifty Giveaway, and Web3 infrastructure provider MoonPay in order to facilitate the purchasing of virtual collectibles through its cards.
Although it is not the first time that Mastercard has stepped into the NFTs space. Earlier in January, the financial services company secured a collaboration with crypto exchange Coinbase to facilitate the purchase on the exchange’s NFT marketplace.
According to the payments firm, it wants to enhance the inclusivity of the new technologies to promote innovation.
It is focusing on providing the users an option to buy the NFTs they want on any marketplace without the requirement to hold cryptocurrencies.
Mastercard currently has approximately 2.9 Billion cards in circulation at a global level. They also plan to grow further with these prominent entities.
NFTs are basically unique digital collectibles or trading cards. NFTs can represent absolutely anything tangible from the real world, from art, music, artwork and real estate to any in-game item. Just like digital assets, they can be purchased, sold, or exchanged over the internet network without requiring an intermediary.
Non-Fungible Tokens (NFTs), gained considerable frenzy only last year when a lot of current popular NFT projects like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and a lot more emerged. Despite the fact that some people are non-supportive of these digital collectibles, they have made a strong position in the world of digital art. And continues to grow as more and more entities are getting associated with them.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
