Popular NFT marketplace OpenSea has expanded its payment options to fiat by enabling transactions through credit cards. The company has partnered with payments infrastructure firm MoonPay to enable direct credit card payments.
Specifically, OpenSea will leverage MoonPay’s new solution NFT Checkout which allows users to purchase an NFT instantly with a debit or credit card, the payments startup revealed Friday in a blog post. Both primary and secondary sales are covered in this payment method.
MoonPay’s co-founder and CEO, Ivan Soto-Wright, noted:
“To be successful, we have to make the process as simple as possible. MoonPay has done that for crypto. And now, in partnership with Opensea, we’re doing it for NFTs as well.”
With the latest deal, users will be able to buy NFTs through Visa, MasterCard, American Express, Apple Pay, Google Pay, and more. Both the companies plan to roll out the feature in multiple phases.
While OpenSea plans to integrate fiat payment options, many traditional industrialists and brands are looking to incorporate cryptocurrencies into their organizational and payments structure. For instance, luxury Italian fashion brand Off-White announced plans to accept cryptocurrency payments for its flagship stores in London, Paris, and Milan.