13/06/2022 Mastercard Buys Into NFTs, Enables Purchase Of Digital Art Using Credit Card

Mastercard

Mastercard, one of the largest payment companiesin the world, has revealed plans to expand access to the market for non-fungible tokens via card payments.

Traditional payment institutions are beginning to incorporate cryptocurrency into their business plans.

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The company has announced that it is collaborating with a number of Web3 and NFT companies to allow users to pay for their products using the company’s technology.

The announcement was published on Friday on Mastercard’s official website by Raj Dhamodharan, Executive Vice President of Digital Asset Blockchain Products & Partnerships.

Mastercard And The Biggest Names In The Business

Mastercard is working with The Sandbox, Candy Digital, Immutable X, Spring, Nifty Gateway, Mintable, and MoonPay to facilitate NFT trade, according to Dhamodharan.

The company disclosed in its forecast that the aforementioned companies represent a significant portion of the NFT sector, which generated more than $25 billion in total sales last year.

Mastercard intends to make payments easier for potential NFT buyers (Coincu News).

According to Dhamodharan, they are collaborating with these businesses to enable use for NFTs purchases.

“With 2,9 billion Mastercard cards in circulation around the globe, this shift could have a significant impact on the NFT ecosystem,” he explained.

Mastercard intends to make payments more accessible for potential buyers of these items, who may encounter obstacles because ofthe crypto industry’s limitations, according to Dhamodharan.

Throughout the NFT boom from last year through 2022, collectors, investors, and traders were often required to acquire cryptocurrency assets such as Ethereum or Solana prior to buying NFTs.

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BTC total market cap at $548 billion on the weekend chart | Source: TradingView.com

Global Interest In NFTs Growing, Survey Shows

Some 45 percent of respondents in a recent Mastercard study of over 45,000 individuals from 40 countries had either purchased an NFT or were considering doing so.

Roughly half of respondents also desired greater flexibility to acquire NFTs with debit or credit cards and to make more everyday purchases with cryptocurrency.

Mastercard and Coinbase have already partnered to enable cash transactions on the company’s new NFT platform.

Visa, for its part, is also targeting the NFT market after acquiring CryptoPunk in late 2021. Since January, MoonPay has provided its partners with an NFT payment solution.

Arts

https://bitcoinist.com/mastercard-buys-into-nfts/

Interesting NFTs
Domestic - 2017
“Domestic is the manifestation of the cultural patriarchy in my home. The wooden "woman's" tragedy of false desire. It was done in a moment of breakup. The hollow 3d body & its lost eyes, invites you to fill up. Trying to reach out, encumbered and wrapped in its own fragility, the new mother rises."
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
CryptoPunk #9373
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.
#50078
By OthersideDeployer
VIRGIN SERPENT SANDALWOOD COTT
Heyo! I'm VIRGIN SERPENT SANDALWOOD COTT. In high school, I was voted biggest teacher's pet. When no one's home, I invite my pals over and we listen to Beyoncé. I like your face.