Magic Eden announced its partnership with Stripe to allow users to conveniently purchase cryptocurrencies and top up their wallets.
On their official Twitter account they said they were proud to partner with Stripe to help the community trade NFTs without any hassle and continue to bring advancements to Web3.
🧵 ICYMI: @Stripe 🤝 @MagicEden
Wallet low on funds? No stress! You can now use @Stripe on @MagicEden to easily buy crypto and top off your wallet.
We are proud to partner with @Stripe to help our community trade NFTs more easily and continue bringing web3 to the mainstream! pic.twitter.com/LEMbIBUkOi
— Magic Eden 🪄 (@MagicEden) December 2, 2022
Magic Eden and Stripe
According to the details revealed regarding the Stripe integration, there will be more seamless NFT payments as the switching between exchanges is eliminated.
In addition to this, it is worth noting that the integration aims to improve the wallet experience, as there will be no more cryptographic wallet signatures to approve transfers.
There will be future convenient reloads, as the integration will enable one-click cryptocurrency purchases after setup.
Notably, users will be able to access Stripe throughout the Magic Eden platform through the drop-down section of the user’s wallet, item detail pages and the “Quick Buy” payment section.
The first phase of the integration will only extend support to SOL purchases in the United States.
Once the connection to the wallet is made, one can choose to click on the strip icon to enter/authenticate some personal data.
And when verification is done, users can start buying crypto with their bank account or debit/credit card.
Recently, one of Solana’s most popular digital asset platform marketplaces, Magic Eden, hinted to its users via its official Twitter account that they were going to introduce a new OCP feature.
It would be an Open Creator Protocol, a system designed to enforce creator copyrights and built on Solana’s SPL managed token standards SPL.
Stripe and the web3
In March, Stripe formally announced a separate service in which it supported web3 companies with some products. It was the startup’s first major move into serving the cryptocurrency industry, having previously announced plans to form a cryptocurrency-focused engineering team in October 2021.
Stripe CEO and co-founder Patrick Collison previously said he is “very skeptical of anyone who is hocking that cryptocurrencies are going to work,” but also acknowledged that companies should try new things, even if they have a good chance of failing.
The startup, valued at $95 billion, recently raised $600 million in a Series H funding round in May last year.
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