Crypto exchange Coinbase Global Inc (NASDAQ:COIN) has partnered with payments giant Mastercard Inc (NYSE:MA) to “revolutionize the NFT purchase experience.”

What Happened: The crypto exchange said Tuesday it's working with Mastercard to classify NFTs as “digital goods” so that a broader group of customers would be able to purchase digital collectibles.

“Coinbase wants to simplify the user experience to allow more people to join the NFTs community. Just as we helped millions of people access Bitcoin (CRYPTO: BTC) for the first time in an easy and trusted way, we want to do the same for NFTs,” said the crypto exchange.

Coinbase plans to unveil an NFT marketplace in the near future and expects its partnership with Mastercard to ease the checkout process for users.

“Coming soon we’ll 'unlock' a new way to pay using Mastercard cards,” said Coinbase.

Also See: Why Kevin O'Leary Named Coinbase His Top Stock For 2022

In November 2021, Coinbase CEO Brian Armstrong went on record to state that the upcoming NFT business could be bigger than its existing crypto offerings, including Bitcoin and Dogecoin (CRYPTO: DOGE).

The crypto exchange has also enabled crypto purchases with Visa Inc (NYSE:V) and Mastercard debit cards that are linked to Apple Pay.

Price Action: Coinbase shares were trading 3.71% lower on Tuesday at $221.50. Mastercard was down 1.16% at $368.10.

Photo: Courtesy of Marco Verch Professional on Flickr