On Thursday, the fiat-to-crypto onramp business Moonpay announced a multi-year partnership with the non-fungible token (NFT) marketplace Looksrare. According to the deal, Looksrare will allow marketplace users to buy and sell crypto assets through Moonpay’s services.
Moonpay and Looksrare Join Forces to Streamline NFT Transactions
Moonpay, the fiat-to-crypto service founded in 2019, revealed that it has entered into a partnership with the NFT market, Looksrare. Launched in August 2022, Looksrare was one of the first NFT marketplaces to actively reward traders with its own token, LOOKS. According to dappradar.com statistics on February 9, 2023, since its inception, the NFT market Looksrare has recorded $1.7 billion in sales.
According to an announcement sent to Bitcoin.com News, Moonpay is introducing an NFT checkout integration with Looksrare that allows anyone to buy NFTs with a credit card. “Checkout will be available for all primary and secondary sales on Looksrare,” according to the Moonpay announcement. “With the NFT checkout integration, Looksrare users will be able to easily purchase an NFT using a debit or credit card, eliminating the need to acquire cryptocurrency first.”
“We’re excited to become an exclusive partner to Looksrare and offer their users more opportunities to buy and sell their cryptocurrency,” Oliver Jeffcott, the senior business development manager at Moonpay said in a statement on Thursday. “From day one, we’ve wanted Moonpay to be a platform that increases access and usability for the Web3 community and this partnership is another step in driving that vision,” Jeffcott added.
NFTs have experienced a resurgence in 2023 and over the past 30 days, $1.067 billion in sales have been recorded among 342,452 NFT buyers. Looksrare, in terms of all-time sales, is just below Opensea, but it has faced increased competition since the launch of X2Y2 and Blur. Blur has recorded $1.19 billion in all-time NFT sales to date, and X2Y2 has seen $1.11 billion in sales since its inception.