Visa And Mastercard Need Solid Layer-2 Infrastructure To Process Payments In The Metaverse

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The future of Visa and Mastercard may reside in the Metaverse. Both payment processing giants have made inroads in the virtual world, even though they may not use Ethereum for a broader rollout. In addition, other scalable networks provide viable opportunities to process payments for the Metaverse. 

Everyone is paying attention to Web3 and where that technology will lead us. Some expect a big virtual world that breaks down the barrier between digital and real-world life. Others see it more as an entertainment space where they can hang out. Regardless of the vision, there will be a need to process payments. Moreover, not all payments need to be in cryptocurrency, either.

Both Visa and Mastercard acknowledge the underlying potential of the Metaverse. Although these companies combine for over $17 trillion in payment volumes, there is always room for future growth. Exploring opportunities in the virtual world is the next major frontier for both providers. 

Mastercard has already made inroads in the Metaverse with its Pride Plaza teleporter. It is established in Decentraland through a partnership with Decentral Games. Such an advertising partnership brings much attention to the brand being onboard and Decentral Games and how they tackle Metaverse growth. Additionally, all advertising revenue from this deal is used to buy back $ICE tokens and take them out of circulation. 

Visa has taken a slightly different route. The company is cautiously exploring cryptocurrencies through its partnership with Crypto.com, one of the biggest household names in the cryptocurrency segment. Making it easier