Wednesday, Aug 17, 2022
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Mastercard’s Payment Network Now Available On Web3, NFTs; Bitcoin Falls

The price of Bitcoin fell by 0.90 per cent in the last 24 hours, while Ethereum was down by 1.78 per cent

Web3, a new form of the Internet based on the Blockchain, is becoming more widely adopted by Mastercard.

Mastercard is expanding its adoption of Web3, a new version of the Internet, based on the Blockchain. It has tied up with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure supplier MoonPay to enable NFT commerce.

Mastercard has over 2.9 billion cards in circulation worldwide, and this tie-up has the potential to have a significant impact on the NFT ecosystem. It has said these developments will expand the potential consumer base of NFT creators to millions of people all around the world. 

In a press statement, Mastercard has further elaborated that the process of purchasing an NFT should be made simpler and safer, and that customers should get what they want with less stress and confusion.

“We're also applying our full suite of capabilities to reinforce customer safety. These integrations are designed to make crypto more accessible and help the NFT ecosystem keep growing,” it said in the statement.

In another news, a survey by Deloitte in partnership with PayPal has revealed that over 85 per cent of businesses “are assigning high or very high importance to supporting cryptocurrency payments,” Bitcoin.com reported.

The majority of merchants surveyed planned to enable crypto payments. Nearly three-quarters of those surveyed reported planned to accept either cryptocurrency or Stablecoin payments within the next 24 months.

According to the survey, titled "Merchants getting ready for crypto", businesses are ready to accept digital currency payments for a variety of reasons. According to the survey, 46 per cent of respondents will increase their consumer base, and 40 per cent will give their company the perception of being cutting edge. Overall, 87 per cent of respondents are of the opinion that businesses that accept digital currencies have a competitive advantage.

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 0.90 per cent in the last 24 hours, and it was trading at $30,018.66 at 5:30 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 46.49 per cent, up by 0.06 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,773.09, down by 1.78 per cent, while Binance Coin (BNB) was down by 0.46 per cent during the same time period, and was trading at $289.58. Solana (SOL) was down by 4.86 per cent to $39.34, while Cardano (ADA) was down by 4.41 per cent to $0.6146.

Meme Coins

Dogecoin was trading at $0.07891 at 5:30 pm IST, down by 1.36 per cent on Coinmarketcap.com. Its rival, Shiba Inu, was down by 1.26 per cent, and it was trading at $0.00001051. Samoyedcoin was down by 1.24 per cent, and it was trading at $0.00001051, while Dogelon Mars was down by 2.29 per cent, and it was trading at $0.0000004171.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.23 trillion, a decrease of 1.21 per cent in the last 24 hours, while the total crypto market volume was $59.03 billion, a decrease of 7.69 per cent.

Tenset (10set) was the biggest gainer, gaining 905.13 per cent. It was trading at 2.85 at 5:30 pm IST, according to Coinmarketcap. In contrast, Saitama witnessed the maximum loss and fell by 78.37 per cent. It was trading at $0.0000000001247.

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