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/

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Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
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This piece represents the creation of a new "Visual Toy", a term created by me to encompass my unique and exclusive GIF-Arts. The latter, "Crypto Toy Coin" is the only and first in the cryptocurrency theme. In it I represent the fast-paced world of finance in the virtual environment, the Internet with its universe of colors and infinite visual impact, an optimistic and exciting future, a world of possibilities that opens before us. These "Visual Toys" invite you to imagine, that is their function, that is the game. The ultimate goal is that you imagine, that it is you who gives it meaning. There are no good or bad answers, just the projection of each one. I've only created the trigger, the piece where you can project your imagination and let it fly.
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