MoonPay launches NFT Platform
MoonPay launches NFT Platform with Fox, Universal Pictures.
MoonPay is partnering with Fox Corporation, Universal Pictures, and Death Row Records (from Rapper Snoop Dogg) in addition to other brands to launch HyperMint, a new NFT platform.
This partnership was announced by Ivan-Soto-Wright, Chief Executive Officer (CEO) as part of this week’s (June 20 to 24) NFT.NYC conference at Radio City Music Hall in New York City.
This comes as great news for the digital collectibles space after volume for NFT marketplaces reached new high lows in 2022. This also bodes well for the adoption of cryptocurrencies despite complaints by investors Bill Gate and Warren Buffett about the worth of Bitcoin and digital assets as a whole.
HyperMint will enable enterprises, agencies, and large brands to mint hundreds of millions of NFTs daily. This will be an upgrade on the minting process of existing NFT platforms are accustomed to, which takes months to complete. The platform’s underlying technology has laid grounds for a further breakout in NFTs for legacy brands like Fox and Universal which have several intellectual properties that can be rolled out to millions of digital collectibles lovers.
Non-Fungible Tokens represent real-world objects in virtual reality such as real estate, music, and art. As digital assets that are indestructible, non-interoperable, indivisible, and verifiable, NFTs cannot be replicated in any shape or form. In 2022, brands such as the National Football League (NFL), Nike, Gucci, McDonald’s, Coca-Cola, Louis Vuitton, Burberry, Ray-Ban, Adidas, and Givenchy integrated NFTs into their marketing strategies.
Commenting on the partnership, Soto-Wright pointed out, “The potential of NFT goes beyond collection; it is the utility. You can essentially program anything into these NFTs over time, which is why we decided to focus on this new product offering.” MoonPay was founded in 2018 and allows users to buy and sell digital assets using traditional payment methods like mobile wallets (Google Pay and Apple Pay), bank transfers, and credit cards. It also sells its technology to NFT marketplace OpenSea and crypto website, Bitcoin.com.
Despite businessman and celebrity Elon Musk being sued for allegedly misleading people into buying crypto, MoonPay has more than 60 celebrity investors on its balance sheet. HyperMint will be joining NFT platforms such as LooksRare, Nifty Gateway, and Magic Eden among others.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.