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NFT-enabler Artifract chooses BUx as its payment platform

Artifract, a pioneer of Fine Arts NFTs in Asia, partners with BUx, the Philippines’ leading payment gateway, to be its official payment platform. By partnering with BUx, Artifract users may soon purchase fine art NFTs through their preferred conventional payment methods without dealing with the complications of buying cryptocurrency.

Artifract allows the tokenization and fractionalization of fine arts, democratizing investment opportunities for everyone. This partnership will make it easier for people to buy NFTs than current crypto payments.

“BUx’s payment features will allow Artifract’s users to purchase NFTs using their e-wallets and bank accounts without purchasing crypto. This lessens the difficulty and leads to seamless user experience because most Philippine art collectors are accustomed to making payments using traditional payment methods,” said Rico Dela Cruz, Product Owner of Artifract.

 

In line with Artifract’s vision, it looks towards offering opportunities for its users to own one-of-a-kind pieces of history through accessible payment options. Business Lead for Lending and NFTs, Mario “Mags” Fetalino III, expounded further on this, saying, 

“To date, purchasing an NFT is quite a tedious process. To scale the usage and adoption of our product, we are using BUx as a component to build an on-ramp – off-ramp capability between fiat and crypto. This partnership will allow users to purchase NFTs and pay via Gcash, Maya, Visa, and other options within the BUx ecosystem – an advantage we will have versus other NFT platforms.”

 

Jaime Garchitorena, UBX’s Managing Director for Open Finance, spoke with optimism about the opportunities that will develop with this partnership. 

“As far as payment options are concerned, BUx has the most expansive selection of payment options and a great customer experience.”

He also added the challenges users face in purchasing NFTs and the benefits in-store for users in the future.

“The challenge of participating in the NFT market is access to possible payment options. BUx has partners that offer different modes of payments that should further make NFTs more available, if not more affordable.”

 

BUx’s payment platform caters to all forms of businesses. From MSMEs to Large Scale Enterprises to traditional brick-and-mortar and e-commerce stores to innovative digital services such as NFT platforms. Expand your business’ capabilities by offering multiple payment options such as over-the-counter with 60,000 payment locations nationwide, e-wallets, online banking, debit/credit card payments, and even buy now, pay later. BUx provides all these payment options in a single link, QR Code, or checkout page via API.

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