MoonPay launches credit card checkout tool for NFTs
MoonPay now offers collectors a service to purchase digital art and collectibles with cash.
Collectors can now buy NFTs with their credit card
MoonPay customers, from major brands to NFT marketplaces, can now use a new checkout tool that allows them to purchase NFTs with debit and credit cards. The new service also supports Apple Pay, Samsung Pay, Google Pay, SEPA, Faster Payments, wire transfers, Open Banking and ACH. MoonPay believes that its new product, which is already in operation, could triple sales of NFTs while significantly speeding up the payment process.The new checkout tool supports NFT purchases across any blockchain, including Ethereum, Flow, Solana, and Polygon. When an NFT is purchased, there are usually fees that are referred to as "gas fees." MoonPay includes these fees in the cost of the NFTs for users of the checkout tool, except for items associated with more efficient blockchains such as Solana, for which MoonPay pays the gas fees itself. After someone purchases an NFT with their card through MoonPay, the NFTs are sent directly to their crypto wallet.
What is MoonPay?
MoonPay was founded in 2019 as an "on-ramp" for crypto purchases and is active in more than 160 countries. In October 2021, the start-up closed a $555 million capital raise at a valuation of $3.4 billion. Recently, MoonPay has taken an active role in the NFT markets by launching a service that helps the rich and famous buy high-end crypto collectibles. The start-up has brokered large purchases for many celebrities, including Paris Hilton and Jimmy Fallon.MoonPay's latest service comes after Coinbase partnered with Mastercard to allow users of its planned NFT marketplace to pay with cards. It is clear that as NFTs become more prevalent, it will become easier for users to purchase NFTs, and Coinbase and MoonPay are at the forefront of this innovation.
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