OpenSea supports NFT credit card purchases

OpenSea will make it possible to buy non-fungible tokens (NFTs) with a credit card. Cards accepted through the Apple Pay and Google Pay platforms will be Visa and Mastercard.

To make payments, OpenSea has partnered with MoonPay, a fintech company building payment structures for cryptocurrencies. Since neither Apple Pay nor Google Pay support OpenSea, MoonPay will act as an intermediary.

Moonpay is also the company that allowed several celebrities to acquire NFTs, such as the Bored Ape series. That said, the platform already has experience in this market.

With MoonPay, investors don’t need to own cryptocurrency and send it to OpenSea: just use the card limit. In this way, OpenSea intends to expand the purchase to those unfamiliar with buying ether (ETH) and other cryptocurrencies.

At first, users didn’t believe the news, thinking it was an April Fool’s joke. However, this information was confirmed by MoonPay product director Anders Hasselstrom. However, a release date for the new tool was not disclosed.

Opensea and NFTs

The past few days have been major releases and news for OpenSea. Last month, the platform announced that it had generated over $5 billion in total sales on Ethereum and Polygon (MATIC). This value corresponds to sales performed in January.

This means that OpenSea broke another personal record, surpassing the number set in August 2021 – its previous record.

This week, as CriptoFácil reported, OpenSea also confirmed that it will begin listing NFTs created on the Solana blockchain. Listings will begin in April, but the platform has yet to reveal an exact date.

However, OpenSea also faces challenges on its platform. The most recent of these occurred in January 2022, when an attack resulted in multiple NFTs being sold at huge discounts. One of them is a boring ape, sold at 92% of its market value. At the time, OpenSea co-founder and CEO Devin Finzer described the incident as a phishing attack.

“We don’t think it has anything to do with the OpenSea website. It appears that 32 users signed malicious transactions from attackers and some of their NFTs were stolen,” Finzer said at the time.

In short, the platform faces a number of challenges related to its security and the usability of its services, which explains the progress made in other alternative payment methods. The MetaMask wallet also incorporates something that allows the purchase of cryptocurrencies through Apple Pay.

Also read: Tips on how to plan your dream trip

Also read: Less than 10% left: Bitcoin hits 19 million mining unit mark

Also Read: Mysterious Bitcoin Whale Quiet for Over 7 Years, Suddenly Wakes Up Just Before BTC Drops Below $45,000

Leave a Comment

Your email address will not be published.