MoonPay Expands Web3 Payments Ecosystem with Magic Eden Integration

The partnership will allow Magic Eden users to buy Ethereum and Polygon NFTs using credit cards.
Image source: Logowik

Quick take:

  • MoonPay has announced a partnership with Magic Eden.
  • The web3 payments company will integrate with the cross-chain NFT marketplace to enable NFT purchases using debit and credit cards.
  • This partnership will allow Magic Eden traders to buy Polygon NFTs directly with credit cards.

MoonPay has announced a partnership with Magic Eden. The partnership allows Magic Eden users to purchase NFTs using debit cards, credit cards, Apple Pay and Google Pay, among other options. Magic Eden is a cross-chain NFT platform featuring Solana, Ethereum and Polygon NFTs. 

The announcement comes hot on the heels of MoonPay’s partnership with LooksRare NFT marketplace. Last year, the company also teamed up with the biggest NFT marketplace in terms of daily active users OpenSea to enable NFT purchases using credit cards.

NFT marketplaces are partnering with MoonPay to accelerate the onboarding process for non-crypto native users.

Highlighting her company’s critical role in onboarding masses to web3, Bree Blazak, Vice President of Global Sales at MoonPay said: “At MoonPay, our mission is to onboard the world to Web3, and our partnership with Magic Eden is an important step forward toward that goal.”

“Digital assets are revolutionising the way we build human connections and maintain ownership of intellectual property, and at MoonPay we are committed to removing obstacles in this space so that greater numbers of people around the world can access this technology,” added Blazak.

Enabling NFT purchases using credit cards and digital wallets removes the complicated process of setting up and verifying a cryptocurrency wallet. It also makes it easier for non-crypto native users to navigate the checkout process, with just a few clicks that take them through familiar online shopping routines. 

MoonPay claims to have already processed over $3.5 billion worth of transactions across 160 countries. On the other hand, Magic Eden has more than 16,000 NFT collections listed on its platform and has already processed a whopping $2.6 billion, according to a press release on Monday.

Zhuoxun Yin, Chief Operating Officer at Magic Eden, commented: “At Magic Eden, we are proud to take part in the NFT revolution, showcasing the vast array of use cases ranging from gaming and collectibles, to ticketing and beyond. Our goal is to make NFTs accessible to everyone, enabling individuals to own and control their digital assets. And now, with our partnership with MoonPay, we’re even more excited to lower the barriers to entry into the exciting world of Web3, democratizing access to these transformative technologies.”


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