The year 2021 will be remembered as the boom year for NFTs. The market was red hot with new collections appearing every few months before being sold out in minutes.
The biggest NFT marketplaces made a gigantic amount of sales. OpenSea alone collected in one single month more than it had collected in the whole of 2020.
Although everything seemed to go well for NFTs, this market represented only a small portion of the population that already had experience with cryptocurrencies and DeFi.
To buy an NFT, you needed to have a wallet, then connect that wallet to a Dapp (decentralized application), and have cryptocurrencies in said wallet.
This was on top of a lot of actions that seem basic for those who know how to use these tools. But, for the majority of people this isn’t easy.
That's why we believe this market could grow even more exponentially. However, there is a lack of tools for the masses to have access to it.
Perhaps being able to buy NFTs with a credit card would be a solution? Well, keep reading.
What is Crossmint?
Crossmint is a series of tools that are easy to add to NFT marketplaces that provide users with a lot of facilities for selling NFTs.
These tools are designed in such a way that adapting them to online stores is simple, with only 4 lines of code needed to make this happen.
With Crossmint, payments can be received via credit card with cryptocurrencies different from the native blockchain to a project.
For example, if we are buying NFTs in Ethereum, we can pay with Solana as well as many other payment facilities in the whitelist.
Rootstrap and Crossmint
Since Rootstrap began working with Web3, our blockchain team is now experimenting with different methodologies to those most commonly used.
Having a project like DaoFy in which Rootstrap must develop a large number of NFT projects and collections, we decided to look for the best partners to make these projects as profitable as possible. This is why we chose Crossmint.
With Crossmint's tools, we can open the door for many people outside the web3 world to acquire their NFTs, while at the same time, allowing those already inside the web3 world to buy their NFTs in a much easier way.
Crossmint tools and functionalities
As mentioned, Crossmint has a number of tools that make buying and selling NFTs much easier. Here, we are going to provide a detailed analysis of each of its key tools.
Credit Card Purchases
This seems to be Crossmint's most revolutionary tool. With a few lines of code integrated to your Minecraft web page, you can allow users to buy your NFTs simply with their email and credit card.
For this to happen, a Crossmint wallet will automatically be created for the buyer, and their NFT will then be deposited there. The buyer then can decide whether to keep their NFT there or send it elsewhere, like to their MetaMask crypto wallet, for example.
On the other hand, the seller will receive 100% of the money (since the commission charged by Crossmint is to the buyer), and this money will be received in any cryptocurrency they choose (within those used by Crossmint).
Once again, this tool is extremely useful, as it opens the door for thousands of users to start getting into the world of Web 3.0.
Cross blockchain payments
Another great tool that Crossmint offers is that it allows users to buy NFTs using their chosen cryptocurrency but on another network (to that of their chosen crypto).
This is extremely powerful because Ethereum, for example, is an expensive network as it is the most used. Commissions on this network can be $50 or more.
Thanks to Crossmint, users of other networks can come and buy their NFT in Ethereum without having to spend huge commissions. The integration of this tool is extremely easy, Crossmint style.
We simply have to integrate a button to our code and choose which cryptocurrency to accept. Remember, that we can only use the cryptocurrencies allowed by Crossmint at this time which are Ether, Sol, Matic and Avax.
API, whitelisting, pre-mint and more tools
The goal of Crossmint's tools is to facilitate payments for purchasing non-fungible tokens, resulting is Crossmint developing a series of APIs for companies, with which you can use these payment methods in a more personalized manner.
At the same time, Crossmint has a series of secondary tools that could help us with whitelists or presales. For example, if an NFT drop would like to pre-sell a certain amount of NFTs at a discount, Crossmint would allow this to happen with a credit card.
Using this approach, the NFT is prepaid and on the day of minting, Crossmint sends that money to the seller and automatically transfers the buyer's NFT to their Crossmint wallet.
If you would like to know how to mint an NFT using Crossmint, check out their quick and easy tutorial on how to do so. For additional info, you can also checkout Crossmint's docs for developers for guidance on using its tools.
Overall thoughts on Crossmint
Crossmint is one of those few companies that is helping the transition between Web2 and Web3. Most Web3 companies develop highly innovative and useful products but with a high degree of complexity which means that only few users know how to use them.
Crossmint provides the tools that will allow people who don't know how to start using these innovative and complex applications. This, as touched on throughout, makes Crossmint a potential gamechanger in how people buy NFTs.
We anticipate that this platform is only going to grow in popularity as more and more people start to experiment with NFTs. Next up, we are going to look at how to create a minting page on Polygon and adding the Crossmint button to do. So stay tuned!
What do you think of Crossmint? Do you see yourself using Crossmint for your NFT transactions? Let us know in the comments!