Magic Eden, a marketplace for non-fungible tokens (NFTs), has joined with Web3 payment provider MoonPay to add new payment methods for purchasing digital assets.
According to this partnership, a press statement states that customers of Magic Eden can use their bank cards, Apple Pay, and Google Pay to buy NFTs at any participating retailer.
The strategic alliance’s primary objective is to streamline the user onboarding procedure and make NFTs easier to access and collect for individuals.
MoonPay’s Strategic Partnership Plans
Prior to its alliance with MagicEden, MoonPay partnered with NFT marketplace LooksRare earlier this month to allow platform users to buy and sell cryptocurrencies through MoonPay, using credit cards.
Moreover, in November 2021, the firm raised $555 million, allowing it to continue forming strategic alliances with different NFT-based and relevant platforms to promote its growth and adoption on a broader scale.
MoonPay also overcame a regulatory hurdle in December when it registered with the United Kingdom’s Financial Conduct Authority (FCA) to demonstrate compliance with local money laundering regulations.
Other Projects Promoting NFT Adoption
While this is a smart and effective approach to make NFTs more accessible, easier to buy/sell, and collect on a broader scale, the efforts to grow and promote the NFT market is simultaneously consistent with other popular projects focusing on different solutions.
Besides making payment and transaction easier, there is more to the NFT marketplace that can help it grow and improve, and diverse projects are making efforts to introduce unique NFT-adopting approaches in the market.
Yet, even then, with popular and emerging projects making their way in the NFT marketplace, the objective of all these platforms is similar to one another – make NFTs accessible and adopted by a larger audience with limited complications. For instance, some similar projects solving different NFT-related problems and introducing features like:
- WowTalkies – a fan-focused community platform with custom and popular NFTs related to the media and entertainment industry as an integral part of the community. What’s more? This community platform uses UPI payments in its marketplace while promoting payment ease for novice users.
- Ommniverse – a unique platform that not only gives creators and collectors a space to add value to unique NFT art through fractional investment/sales of NFTs but also integrates a smooth and easy user interface.
- SleepBe – SleepBe is getting into our everyday lives and rewarding people with NFTs for sleeping well. This platform mainly focuses on making NFTs accessible to everyone by rewarding users (or sleepers) with an NFT. Since this platform promotes a unique web3 trend, it helps newbies and users unfamiliar with NFTs to learn more about it as they sleep their way to adding to their digital assets.
Now with different NFT-based platforms solving different issues like platform understanding difficulties, payment complications, promoting NFT awareness and its value, and making it easier to collect NFTs, unlike how some people think of it as complicated as rocket science), there’s certainly the great potential of growth and adoption in this marketplace.
In fact, with these popular and emerging projects consistently creating hype, excitement, and accessibility for users, not only is the NFT marketplace growing and improving, but the perks that come along with collecting NFTs are also expanding.