OpenSea broadens NFT payment options

Non-fungible token (NFT) marketplace OpenSea is set to enable buyers to pay for tokens with either Apply Pay, credit cards or debit cards – without cryptocurrency.

The new payment methods come after the recent announcement of its partnership with Moonpay, the account that enables an exchange in cryptocurrencies, fiat or other government-issued currencies as payment in the crypto space.

OpenSea has been busy in the headlines recently and the new move could be seen as a way to entice a more mainstream buyer.

Last month OpenSea announced it had generated more than $5bn in total trading volume (braking the company’s previous record set in August 2021).

In more recent news, there was confirmation from the NFT marketplace stating it will begin listing Solana NFTs with a short teaser video broadcast over Twitter explaining that the move was the “best-kept secret in web3”.

On March 30 there was an increase of 80% in Solana’s trading volume, surging alongside the price of SOL which saw a rising price of nearly 24% last week.

However, the success of OpenSea hasn't always been so obvious. At the start of this year after an exploit on the NFT marketplace, a Bored Ape Yacht Club NFT sold below its floor price.

This was followed by an unfortunate robbery in February, where OpenSea users proclaimed that Cool Cats and Doodle NFT collections had been stolen. It was then confirmed by co-founder and CEO Devin Finzer that it was down to a “phishing attack”.

In a statement on the OpenSea website, Finzer said: “We don’t believe it’s connected to the OpenSea website. It appears 32 users thus far have signed a malicious payload from an attacker, and some of their NFTs were stolen.”

In an incident Finzer described as “misframed” as insider trading, an OpenSea employee bought an NFT and profited from the purchase just before it was featured on the site’s front page.

This move by the company to instigate no longer needing cryptocurrency to trade could be deemed a game-changer in the crypto space, one that hopes to bring more newbies as NFT collectors.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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