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Fintech firms Curve, Circle join NFT frenzy with art auction and payment solution

Fintech firms Curve, Circle join NFT frenzy with an art auction and payment solution
Jordan
Major
Updated: 03 Apr, 2021
2 mins read

One of the most recognized UK challenger banks Curve has joined the non-fungible tokens (NFTs) frenzy in a bid to support London theatres. 

In a Twitter post, the company indicates it’s auctioning five Curve-branded NFTs to raise funds in support of London theatres that have been devastated by the coronavirus pandemic. The funds will mainly help the 40% of theater workers who are jobless due to the health crisis. 

Curve’s NFT auction figures will be on the crypto art marketplace Rarible.com and collectors will need to connect an Ethereum wallet to bid for the art.

Curve founder and CEO Shachar Bialick explained the motivation behind supporting theaters through NFTs:

The theatre community is part of what gives London its vibrancy and diversity, a combination that made Curve choose the UK capital as our HQ. I am proud that Curve is working with Theatre Support Fund+ on one of the first examples of using digital art to make a tangible difference to society. NFTs hold genuine promise to change how we think about art ownership and enjoyment as a purely physical experience.”

Curve is among notable institutions from the financial world to hope the NFT bandwagon to raise extra money. 

Circle launches NFT payment platform

This comes after Circle launched a complete payments solution that allows NFT marketplaces to accept credit card and crypto payments.

The move aims to attract more users to participate in the NFT marketplaces. The platform will support USD Coin, Bitcoin, and Ethereum payments. The platform also supports NFT custodial services, and yield-generating Circle accounts for NFT market operators.

“This is not only an important and valuable trend for marketplaces and creators; it represents incredible demand from customers — for collectibles, artwork, moments, and really anything that can be tokenized on the blockchain,” said Circle Co-Founder and CEO Jeremy Allaire.

In recent months, NFTs have risen to popularity as digital files underpinned by blockchain technology. The popularity is due to the uniqueness that verifies who is the rightful owner of a piece of art. 

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.