Coinbase will let you pay with Mastercard in its upcoming NFT marketplace

The photo was taken by Amelia Krales.

Mastercard will allow card payments on the NFT marketplace. You will be able to purchase an NFT with a government-issued currency, such as theUSD, using your Mastercard credit or debit card, all without having to buy currency first.

NFTs should be more accessible to someone who might be uncomfortable purchasing and storing currency if they are classified as digital goods by the exchange. Most NFT marketplaces require that you purchase cryptocurrencies first, add it to a secure wallet, and then connect that wallet to the marketplace, a process that is not as simple as buying online.

NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them. NFT stands for non-fungible token, and it can contain anything digital, including drawings, animated GIFs, songs, or items in video games. The NFT can be one-of-a-kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file.

Nyan Cat and the "deal with it" sunglasses are being put up for auction, as NFTs have been making headlines recently. There is a lot of discussion about the massive electricity use and environmental impacts of NFTs. If you still have questions, you can read through our FAQ.

Mastercard says that it could spark the next evolution of digital commerce by expanding the audience for NFTs. Getting more people involved safely and securely is the best way to help the market thrive. Mastercard will use the acquisition of CipherTrace to bolster the safety of NFT purchases.

In October, the company first announced its NFT marketplace, which it described as a platform that will let you trade, sell, and mint NFTs. You can sign up for the waitlist to gain early access to the site. Nifty Gateway has been offering credit and debit card payments since day one, and other popular NFT marketplaces have already explored the possibility. Rarible can also be used to purchase an NFT directly with a Visa or Mastercard.

You have to use a third-party service called MoonPay to add funds on OpenSea, and then convert your currency to Ethereum before making a purchase. Users are required to load up a wallet with cryptocurrencies before buying NFTs.