MoonPay and LooksRare collaborate to simplify NFT transactions

MoonPay and LooksRare collaborate to simplify NFT transactions

MoonPay, a leading cryptocurrency payment firm, recently announced its partnership with LooksRare, a fast-growing non-fungible token (NFT) marketplace. The collaboration aims to offer seamless payment solutions for buying and selling NFTs, making it easier for users to participate in the rapidly growing NFT industry. 

MoonPay partners with LooksRare NFT firm 

Earlier today MoonPay announced that it was partnering with LooksRare NFT firm. With this partnership, both companies hope to offer a smooth and secure payment process for NFT transactions, providing a frictionless experience for NFT buyers and sellers alike. 

This partnership is expected to impact the NFT industry significantly and could set the standard for future collaborations in the space.

MoonPay is offering its support to the customers of LooksRare to transition to the web3 environment with ease, providing them with a comprehensive suite of products that streamline transactions. 

The “NFT Checkout” feature is particularly noteworthy as it offers NFT collectors the convenience of purchasing NFTs using a standard debit or credit card, eliminating the need to acquire cryptocurrency beforehand. 

MoonPay increases web3 access

Furthermore, MoonPay users will have the added advantage of using the platform to acquire LOOKS, the proprietary token of the LooksRare marketplace. In essence, MoonPay’s infrastructure is designed to make buying and selling NFTs as seamless and user-friendly as possible.

According to a statement by Oliver Jeffcott, a Senior Business Development Manager at MoonPay, this partnership “is a step forward in their journey.” He further stated:

“MoonPay has always aimed to improve accessibility and usability for the Web3 community. Their latest partnership takes them closer to achieving this goal.” 

In November of 2021, MoonPay raised a substantial sum of $555 million, intending to streamline the process of facilitating cryptocurrency payments and making it easier for users to access Web3. 

MoonPay and Mastercard to promote mainstream adoption of NFTs

As part of their efforts to simplify transactions, MoonPay will join forces with Mastercard in June to offer customers a convenient way to buy NFTs using their credit cards.

Additionally, the process of buying NFTs can be challenging, especially for those who are new to the world of cryptocurrency. With this partnership, MoonPay and Mastercard aim to simplify the process, making it easier and more accessible for people to purchase NFTs using their existing Mastercard cards.

The collaboration will further mark an essential step toward the mainstream adoption of NFTs. It could make entering the NFT market easier and allow enthusiasts to start collecting unique digital assets.

The partnership also demonstrates a commitment to innovation by both companies. Mastercard is heavily investing in the web3 space, having recently created an artist accelerator program to help the career of musicians. The same can be said about Moonpay, as the company is on a mission to broaden the scope of its Web3 services through relevant partnerships, which have resulted in a Stars Wars themed NFT collection, and the acquisition of creative agencies.

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