Simplex, a Nuvei company and the largest fiat infrastructure for digital currencies globally, is collaborating with FEATURED by Binance, the decentralized NFT marketplace incubated by Binance X, an initiative to foster innovation in the crypto ecosystem.
Currently, purchasing NFTs on other marketplaces is a process composed of two main steps: purchasing the cryptocurrency that NFTs are priced in, and then using it to acquire the NFT. The two steps are largely independent and usually require the use of a third-party platform. This lowers the effectiveness of the NFT marketplace’s user acquisition strategy. Given the strong mainstream appeal of NFTs, many new users looking to purchase the collectibles will be dipping their toes in crypto for the first time. For the NFT marketplace, the lack of fiat gateways means delegating a key part of their customer funnel to external entities, losing control over the process and potentially missing out on a high proportion of leads.
This integration with Simplex establishes an easy and convenient gateway for users to acquire BNB to purchase NFTs on FEATURED by Binance, all within one seamless flow. In just a few clicks, users can purchase their desired NFT with their everyday debit or credit cards without leaving the FEATURED NFT platform. The NFT will be sent directly to their wallet, in the span of just a few minutes.
“We’re thrilled to continue leading with our long-time partner, Binance, on enabling seamless NFT adoption for the masses,” said Nimrod Lehavi, CEO of Simplex. “This integration signals the beginning of a new, simpler and more streamlined future for NFT purchases.”
“Simplex continues to innovate on fiat-to-crypto on-ramps, and their latest offering makes it much simpler for our users to frictionlessly purchase NFTs and engage with creators”, said CEO of Featured by Binance, Teck Chia.
Simplex, a Nuvei company, is the fiat/crypto infrastructure for the entire world. Powerful, seamless, and impactful, Simplex has been changing the status quo of crypto on/off ramps since 2014. As the market leader, we pioneered the first riskless global fiat onramp using a credit and debit card, which promises a zero chargeback guarantee. Simplex Banking offers the Simplex fraudless payment processing, with global payment accessibility. Working alongside the biggest names in the crypto ecosystem, including Binance, Huobi, Bitpay, Simplex provides the complete fiat infrastructure for the cryptocurrency ecosystem. As a licensed EU financial institution and a Principal Member of the Visa network, Simplex was selected as one of the 10 most impactful companies in blockchain in 2020. Keep up with the latest Simplex news by following us on Twitter or visiting simplex.com.
About FEATURED by Binance
FEATURED is a non-custodial, on-chain NFT platform incubated by Binance X, the innovation arm of Binance. The platform runs on Binance Smart Chain and facilitates the full life cycle of NFTs for creators, brands, and their fans, including minting, marketing, distribution and secondary trading.