Despite the downturn in the crypto market and the recent decline in the prices of non-flammable tokens (NFTs), cryptocurrency startup MoonPay is moving to promote NFTs.
On Tuesday, the company said it had launched a new NFT platform called HyperMint, in collaboration with Universal Pictures, Fox Corporation and rapper Snoop Dogg’s Death Row Records.
The new platform will allow big brands, agencies and companies to create millions of NFTs a day, according to a CNBC report.
In this way, the platform will enhance the operation that used to take months using blockchain technology.
The news was presented by MoonPay CEO Ivan Soto-Right as part of the NFT.NYC conference in New York.
As the executive pointed out, beyond the potential accumulation of NFTs, the utility is:
“You can program basically anything in these NFTs over time. And that’s why we decided to focus on offering this new product,” Soto Wright told CNBC. It really makes that change possible. The ability to accumulate and program utility in these NFTs requires more enterprise level tools.
Focus on NFTs.
Founded in 2018 and based in Miami, MoonPay allows customers to buy and sell cryptocurrencies using traditional payment methods. This includes, for example, credit cards, bank transfers or mobile wallets such as Apple Pay and Google Pay.
In addition, the company sells its technology to other companies, including the cryptocurrency website Bitcoin.com and the OpenSea NFTs marketplace. Soto Wright calls this model “Crypto-S-One-Service”.
In April of this year, as reported by CriptoFácil, MoonPay raised US $ 87 million during the investment period.
More than 60 high-profile investors took part in the round, including singer Justin Bieber, Snoop Dogg, tennis player Maria Sharapova, actor Bruce Willis and rapper Drake.
At the time, Soto Wright said the expectation was that content creators would increasingly use NFTs to market their work and engage with fans.
Furthermore, he said, MoonPay aims to make cryptocurrencies accessible to the public in the same way that video conferencing tools like Zoom have made it easier to make calls to the Internet.
Despite the corrupt winter, which is also affecting the NFT market, Soto Wright’s idea is to expand the platform to include everything from digital currencies to tokenized shares.
Soto Wright said months have been difficult for corrupt currencies. “But I’ve seen these different cycles before. I’ve seen this movie. There will always be periods of ups and downs. This is a new asset class and we have a new subset of this asset class, the NFTs. Are
The executive also said it was important to “prepare to work on the issues of using the biggest brands and the biggest creators that are really important.”
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