OpenSea is set to accept credit cards for NFTs via Moonpay, in an attempt to broaden its marketplace. This comes after many other NFT marketplaces like Sorare and Rarible that already allow them. They can now pay with various credit and debit card brands, such as American Express, Google Pay, and Visa, without needing to convert fiat to crypto first.
OpenSea’s Move to Credit Cards
OpenSea has made the move to broaden the NFT marketplace’s consumer base to include those who are more unfamiliar with cryptocurrency. Still, all NFTs will continue to be natively supported, and they’ll still handle all deliveries on-chain. It means users don’t need to leave the platform to pay.
This payment method change applies to both primary and secondary NFT sales, including minting and first drops. Those who use OpenSea will still need a wallet, like MetaMask, to keep NFTs in.
The change to credit card payments comes as a part of OpenSea’s bigger plans in the near, and long-term future. Their other moves include looking to support Solana NFTs on the platform and recently launching their investment arm, OpenSea Ventures. This arm will focus on expanding the Web3 ecosystem.
MoonPay lets people exchange cryptocurrencies and fiat currencies, as well as NFTs, using major payment methods. Their strategy has included onboarding many celebrities into the world of NFTs via their service. The list of celebrities includes Snoop Dogg, Jimmy Fallon, Justin Bieber, DJ Khaled and more.
Their list of clients has allowed them to grow a huge audience on Twitter within the crypto space. They have over 56,000 followers on the primary platform for NFTs. These followers include major names within NFTs: Cool Cats, Zeneca, Pranksy, Paris Hilton, Steve Aoki and more. The company is now one of the biggest in NFTs and crypto in terms of brand name.