OpenSea rolls out credit card payments for NFTs

The NFT marketplace OpenSea has rolled out direct card payments on its platform through MoonPay, simplifying the process of acquiring an NFT for those who don’t own crypto. 

Collectors will be able to pay directly via Visa, MasterCard, American Express, Apple Pay, Google Pay, among other methods, without having to convert to specific cryptocurrencies first, a MoonPay spokesperson told The Block.

The move is set to expand the marketplace’s customer base to more non-crypto natives. 

All NFTs on OpenSea are supported natively, and all deliveries are handled on-chain, meaning that OpenSea users don’t need to travel outside the platform to pay, and aren’t tied to using a custodial ledger or forced to use a specific token. The catch for those paying on card is that it may cost more due to added fees. 

This payment method covers both primary NFT sales, including minting and initial drops, as well as secondary trading.

The feature will be rolled out in phases to batches of users, MoonPay said. Those using OpenSea will still have to hold NFTs in their own wallet. 

MoonPay first launched its plug-and-play service for buying and selling NFTs with a credit card in January. The move came as Mastercard announced that it was joining forces with Coinbase to enable people to buy NFTs with their debit and credit cards.

This is the latest move of many which aim to bring NFTs to the masses. Earlier this month, Meta CEO Mark Zuckerberg also said that Instagram would look to integrate NFTs “over the next several months.”

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