As NFTs explode in popularity, operators of NFT marketplaces and storefronts need to remove barriers to entry for their users. More people in and outside of the crypto world are ready to get their hands on the latest NBA Top Shot moment, or a piece of artwork that connects with them. They’re ready to pay for rare items, access to unique creator content and memorabilia, and the chance to share their collections with the world. It’s up to the marketplace to make that easy — or risk leaving cash on the table.
Enter Circle’s payments and treasury infrastructure. We make it easy to become a more convenient marketplace for consumers, driving network effects and giving creators a more impactful channel in which to sell their work. We also increase efficiency with backend operations, allowing you to skip burdensome steps and focus on building great experiences. Whether you’re selling digital collectibles or in-game assets, you can benefit from a flexible, crypto-native and scaling solution. Read on to learn how Circle products are helping bring NFTs mainstream.
Circle’s Payments product allows marketplace and storefront operators to process payments at scale, accepting blockchain payments in USDC as well as traditional payments like cards, bank wires and ACH. All settle in your Circle Account as USDC — there's no need for a traditional bank account. With multiple global payment options it’s easy to accept payments instantly from users wherever they are in the world.
Importantly, this means NFT marketplaces can stay crypto-native while allowing users to pay with traditional rails as needed. This creates greater reach for buyers and sellers alike.
Similarly, Payouts allows marketplaces to pay out sellers globally from their USDC balances. The possibilities are endless for hosting creators on your platform. From artists to sneakerheads, meme lords to virtual real estate developers, ensure those being paid can get their funds quickly and in the format they choose — crypto or traditional via ACH or wires — so they can be empowered to grow.
While we enable our customers to create state-of-the-art payment experiences for their users, we want to make our customers’ lives easier, too. Our Accounts product allows marketplace operators to create and manage a scalable account and sub-account infrastructure to perform a host of tasks like holding customer balances, manage funds routing, and perform accounting. For instance, Dapper Labs uses Circle to offer seamless NFT transactions to their users. All activity can be measured on the backend via a simple dashboard. We make it easy to grow as a marketplace, too.
The NFT market is thriving — Dapper’s NBA Top Shot alone had a $44M day last weekend, a rare CryptoPunk was sold for more than three quarters of a million dollars and a single Nyan Cat meme was sold for nearly $600M — and Circle is moving it forward.