Crypto payments platform MoonPay has released a plug-and-play service for buying and selling NFTs with a credit card.
Available to any brand, creator, or marketplace, MoonPay's NFT Checkcout classifies tokens as 'digital goods' leading to card approval rates that are multiples higher than standard crypto on-ramps.
Earlier this month, Mastercard announced that it was joining forces with Coinbase to enable people to buy NFTs with their debit and credit cards.
MoonPay CEO Ivan Soto-Wright, says: “Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency. MoonPay’s NFT Checkout has just opened the door to billions more who own credit cards by making ownership both simple and fast.”
NFT Checkout works on any blockchain — including Ethereum, Flow, Solana, and Polygon — and delivers NFTs directly to an on-chain wallet address. MoonPay assumes responsibility for any regulatory and chargeback issues related to the card approval process.
Founded less than three years ago, MoonPay's fiat-to-crypto on-ramp powers more than 250 wallets, websites and applications in more than 160 countries and has processed more than $2 billion in transactions to date. In November, the firm hit a $3.4 billion valuation off the back of a $555 million Series A funding round led by Tiger Global Management and Coatue.