Rumours Anticipate Expansion of NFT Marketplace Beyond Crypto to Fiat Credit Cards

1 min read

There is growing speculation that investors will soon be able to purchase NFTs using fiat credit cards.

Popular NFT marketplace OpenSea has launched direct payments on its platform via MoonPay, thereby simplifying the process of acquiring NFTs for those who don’t own cryptocurrencies.

According to OpenSea, collectors will be able to pay directly via Visa, MasterCard, American Express, Apple Pay and Google Pay, among others:

Sail the OpenSea on a Credit Card

This move, which will undoubtedly bring newcomers to the NFT space, is the result of a partnership with MoonPay, a fintech player that builds payment infrastructure in the crypto space. As it stands, OpenSea users are required to leverage crypto assets such as ether to purchase NFTs on the marketplace.

The MoonPay integration will change this going forward, and OpenSea visitors will have the ability to choose from an assortment of payment options. MoonPay is also the company that has worked with many celebrities to facilitate Bored Ape NFT purchases for the likes of rapper Wiz Khalifa and ageing pop star Madonna.

Many are excited by OpenSea’s new venture, but some are not altogether convinced it will succeed:

OpenSea Expands its Reach into the NFT Space

Just recently, OpenSea announced it would be supporting the blockchain network Solana (SOL), after a myriad of rumours, speculation and leaked images had hinted the platform would soon add SOL and Phantom Wallet support. OpenSea is the leading NFT project in terms of sales volume, accruing US$23.5 billion since its inception. It is followed by fellow NFT marketplace LooksRare, which has recorded US$18.16 billion in total sales volume.

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