OpenSea Enables NFT Purchases With Credit Cards, Apple Pay

Buyers on OpenSea, one of the world’s leading NFT marketplaces, can soon pay for NFTs with credit cards, debit cards or Apple Pay due to a partnership with MoonPay, the company who also announced the news Friday morning. 

This announcement could be revolutionary in the digital marketplace as traditionally, NFTs must be purchased using crypto. Soon, this will not be the case with OpenSea and MoonPay leading the way. 

MoonPay, a fintech company that builds payment infrastructure in the crypto space and a crypto exchange already allows users to buy crypto using credit cards, bank transfers and Apple Pay. They also worked with many celebrities in facilitating their purchases of Bored Ape NFTs, including Post Malone, Future, DJ Khaled, Snoop Dogg and more. 

This move will surely bring more mainstream buyers into the market. There are some buyers out there that want to get in on NFTs but may be apprehensive in buying crypto to fund their NFT. This is exactly what this new partnership is here to help with. 

This announcement comes at a time when OpenSea is gaining more and more popularity. Just last month, OpenSea announced they generated an all-time high of over $5 billion in total trading volume in January. This broke their previous record which was set in August, 2021 when the NFT market exploded after a rather slow summer. 

In addition, the gas-free marketplace confirmed it will start listing Solana NFTs in April, though it is unclear exactly when in April. As a result, Solana surged in price with trading volume increasing by over 80% on March 30. 

However, it hasn’t been all good news for the New York-based marketplace. In February users reported that NFTs from Cool Cats and Doodle collections had been stolen. Furthermore a user was able to buy a Bored Ape Yacht Club NFT at an old price due to an exploit.

Author: Tyler Irvin

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