New Service ‘Pie’ enables credit card payment for NFT purchases on OpenSea

A new service has been launched to allow buyers who do not have crypto currencies in hand to purchase NFTs on leading marketplace OpenSea using a credit card.

The service, Pie, only requires buyers to have an email address, wallet address and credit card information when purchasing NFTs on OpenSea. They don’t even have to set up an account. 

VISA, Mastercard and American Express credit cards are supported in the service.

Pie is provided by XYZ, a start-up company that operates the smartphone dress-up app TOYS. 

Originally, Ethereum was required to purchase NFTs on OpenSea, but Pie purchases crypto assets and buys NFTs on behalf of the user. Within 24 hours of purchase, the purchased items would be transferred to the user’s wallet. 

Prices are displayed in Japanese yen instead of Ethereum, making it easier for beginners who are buying NFTs for the first time.

Items that can be purchased are worth between 20,000 yen (approximately US$148) and 5 million yen, including tax. Buyers can use any wallet to receive NFTs, but MetaMask is recommended. Non-Ethereum items are not currently supported.

Pie will charge a fee of between 5 and 15 per cent of the NFT price per purchase. Prices are quoted inclusive of all fees, including commissions and sending fees. The percentage of fees varies from item to item, as the selling price of the NFTs changes constantly according to the rate of crypto assets at the time. Users cannot buy multiple items in one purchase.