Crypto Firm MoonPay Rolls Out NFT Platform in Partnership with Fox, Universal
Key Points:
- Crypto startup MoonPay has partnered with Fox Corporation, Death Row Records, and Universal Pictures to roll out a new NFT platform, HyperMint
- The new platform allows agencies, established brands, and enterprises to mint millions of NFTs each day.
- This will accelerate and scale up the operation that took months to complete previously with blockchain technology.
Crypto firm MoonPay has announced that it has launched an NFT platform with Snoop Dogg’s Death Row Records, Fox Corporations, and Universal Records. The platform is called HyperMint. It will allow agencies, enterprises, and large companies to mint millions of NFTs each day, scaling up operations that took months using blockchain technology.
The new NFT platform coupled with the underlying technology offers a great opportunity for legacy brands including Fox and Universal that have a repository of intellectual property.
SEE ALSO: Crypto exchange Coinbase rolls out new social NFT marketplace
More about NFTs and MoonPay’s New Product
The hype around NFTs is only growing each year. NFTs have garnered a great amount of attention in recent years, especially from the tech-savvy and younger population worldwide. But what are NFTs?
NFTs are digital assets that represent real-world commodities and objects but cannot be replicated including real estate, music, art, and more. Over the past, industry heavyweights including Nike, McDonald’s, Coca-Cola, and Gucci have introduced NFTs as part of their marketing initiatives.
Soto-Wright, CEO, MoonPay says that NFT has a lot more to offer in terms of utility than most people think. He says that users can program anything into NFTs over time, which is why the firm’s primary focus is on the development of the new platform.
MoonPay is launching its NFT platform amidst turbulent times for the crypto sector. As selloffs in cryptocurrencies are rife at the moment, investors have no other option but to scuffle with high-interest rates from the Federal Reserve. Besides, a plethora of major players have been ushered toward financial instability due to the recent bumps in the market.
More about MoonPay
MoonPay was founded in 2018 and is based in Miami. It enables users to buy and sell cryptocurrencies using conventional payment methods including mobile wallets, bank transfers, Google Pay, and Apple Pay. In addition, the startup also sells its tech to other players including NFT marketplace OpenSea, crypto website Bitcoin.com, and more. Soto has termed this model as “crypto-as-a-service”.
MoonPay claims to be profitable since it launched in 2019. Today, over 10 million customers across 160 countries use its services. In the past, Soto has expressed that MoonPay wants to make crypto more accessible to the masses in the same manner Zoom has made internet calling a breeze.
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