Jeff Pratt breaks down MoonPay’s upcoming NFT platform, HyperMint.
Welcome to NFT.NYC week! A ton of news is going to break over the next couple of days, and I will be covering it all here.
The world is expanding, and DraftKings is expanding along with it. As NFTs continue to grow, these daily articles will serve as a hub for the latest news and notes in the space.
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In case you are new to the Metaverse, check out my quick breakdown on what NFTs are and how they work. For those looking to get in the game, read my article on how to set up a MetaMask wallet.
On Tuesday, crypto start-up MoonPay announced a partnership with Fox, Universal Pictures, Snoop Dogg’s Death Row Records and other companies to launch its new NFT platform, HyperMint.
We’ve got something big to announce today…
HyperMint will allow companies to mint hundreds of millions of NFTs on a daily basis, speeding up the process that used to take weeks — or even months — to accomplish.
“The potential of NFTs goes beyond collecting; it’s 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 CEO Ivan Soto-Wright told CNBC in an interview.
MoonPay was founded in 2018 with the goal of making NFTs available to the public on a mainstream level. The organization appealed to those dipping their toes in the metaverse by giving them the opportunity to purchase digital collectibles with conventional payment methods like credit cards and mobile wallets.
It’s no secret that crypto has taken a hit recently, but Soto-Wright sees this as an opportunity for large corporations to invest.
“I’ve seen many of these different cycles before. I’ve seen this movie. There’s always going to be periods of volatility. It’s a brand new asset class and we have a brand new subset of that asset class, which is NFTs,” he said.
Stay tuned for updates as more information about HyperMint is revealed at NFT.NYC this week! Follow the official MoonPay Twitter account here.
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