MoonPay rolls out world-first credit card checkout for NFT purchases

    02 Feb 2022

    MoonPay, a leading global crypto payments infrastructure provider, announced the launch of NFT Checkout, a plug-and-play solution allowing any brand, creator, or marketplace to give their users a simpler, faster way to buy and sell NFTs with a credit card. In addition, NFT Checkout’s card approval rates are multiples higher than standard crypto on-ramps, leading up to 3x more sales.

    “We’ve already radically simplified cryptocurrency transactions — NFTs were the obvious next step,” claimed Ivan Soto-Wright, MoonPay CEO. “NFTs are revolutionizing everything from art to intellectual property and how we send, receive, and store value. They hold the potential to transform the way we build, strengthen and maintain powerful human connections—not for a centralized few behind walled gardens, but for anyone and everyone on the planet who is ready to become a part of this powerful movement.”

    MoonPay CEO added: “Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency. MoonPay’s NFT Checkout has just opened the door to billions more who own credit cards by making ownership both simple and fast.”

    Before NFT Checkout, anyone looking to purchase an NFT had to first buy a cryptocurrency and then exchange it for the NFT — a confusing, cumbersome, and time-consuming process for many. MoonPay’s NFT Checkout solves this problem for brands, creators, and marketplaces by allowing their users to buy NFTs with fewer fees and an easier verification process using debit/credit cards, Apple Pay, Samsung Pay, Google Pay, ACH, Faster Payments, Wire Transfers, Open Banking and SEPA.

    The new plug-and-play solution works on any blockchain, including Ethereum, Flow, Solana, and Polygon, and delivers NFTs directly to an on-chain wallet address. Also, taking regulatory and chargeback responsibility away from business customers, MoonPay allows them to market faster and more seamlessly.

    This announcement comes after MoonPay’s $555 million Series A financing round led by Tiger Global Management and Coatue with Blossom Capital, Thrive Capital, Paradigm, and NEA participation.

    The new funding, which values the bootstrapped and profitable company at $3.4 billion, has paved the way for it to accelerate its global footprint through new products, like MoonPay Concierge, and partnerships with leading organizations, like FaZe Clan. In addition, with NFT Checkout, the company aims to broaden appeal and access to digital assets for billions of people worldwide.

    Founded in 2019 as an ‘on-ramp’ for crypto purchases, MoonPay has quickly amassed more than 250 clients and is active across more than 160 countries.

    Recently, MoonPay has taken an active role in NFT markets by launching a concierge service that helps the rich and famous purchase high-end crypto collectibles. Additionally, the startup has brokered big-ticket buys for many celebrities, including Paris Hilton, Jimmy Fallon, and Snoop Dogg.

    In an email sent to staff this morning announcing the launch of its new checkout tool, Soto-Wright wrote: “NFTs represent the future, not just of our company, but of the entire crypto community. NFTs enable digital ownership of collectibles in the form of art, fashion, music, and beyond. The addressable market segment expands dramatically beyond cryptocurrencies as a new form of money.”

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