A huge pain point for buying crypto are current on/off ramps. Exchanges like @coinbase have made it far easier than before, but they are still an inconvenience.

Buying and selling crypto to/from fiat should be frictionless. No accounts/KYC, no geo-restricted services, and be settled instantly.

I recently read about an interesting concept: NFT checkout. Buyers purchase NFTs that represent a certain amount of value and can then exchange these NFTs for their equivalent worth in tokens onchain or into fiat.

The reason this works? NFTs are considered commodities while most tokens are securities. A business wouldn’t have the same level of regulatory scrutiny for buying/selling digital commodities as they would for tokens considered to be securities.

This could let tons of businesses create their own on/off ramps which would increase competition and likely drive down fees, making it cheaper and more convenient for users to buy/sell crypto with fiat.

@privy_io has a great article that covers this idea far more in depth: