As the NFT (non-fungible token) market grows, NFT markets are seeking ways to increase accessibility for new investors. Until now, when buying NFT, it pays with coins, but in the future, it is expected that purchases through legal currency or cards will be possible.
According to the industry and major foreign media on the 30th, Jeffries, an investment bank, predicted that the value of the NFT market will reach more than $35 billion this year and grow to more than $80 billion by 2025.
As the market grows, NFT markets are lowering entry barriers for new investors. It is looking for ways to increase accessibility by simplifying the method of purchasing NFT. Until now, in order to invest in NFT, you had to create a cryptocurrency wallet, purchase cryptocurrency, and then purchase NFT using coins online.
Coinbase signed a business agreement with MasterCard on the 18th (local time). The move is aimed at allowing users to purchase NFT assets directly from Coinbase NFT Marketplace with MasterCard’s credit and debit cards. Coinbase said it is working with MasterCard to find ways to reduce friction in the NFT purchase process. MasterCard noted that it will help expand consumers’ choices on how to pay for NFT.
NFT Marketplace OpenSea announced on the same day that it has acquired the cryptocurrency wallet platform “Dharma Labs.” Nadaab Hollander, CEO of Dharma Labs, will join as Chief Technology Officer (CTO) at the opening. Regarding the acquisition, Devin Finger, co-founder and CEO of OpenSea, said, “It will help dramatically improve the experience of purchasing, issuing and selling NFTs at OpenSea.”
The acquisition of Dharma at the time of opening is interpreted as a move to come up with a plan to purchase NFT in legal currency. Dharma started with a DPI loan app that allows users to deposit legal currency to trade tokens at Euniswab. The open city recorded more than $2.35 billion in trading volume in January. However, competition is intensifying with the recent emergence of new exchanges such as Luxre.
Double Rock, a media outlet specializing in cryptocurrency, said the simplified entry method will be a “good wind” for the already rapidly growing NFT market.
