The product saw a team-up of numerous popular MoonPay’s partners.
On June 21st, MoonPay, a groundbreaking crypto-related payment services startup, announced that it would be rolling out a new NFT platform dubbed HyperMint. The CEO and co-founder of MoonPay Ivan Soto-Wright unveiled the initiative during the Bitcoin-oriented NFT.NYC conference that took place in Miami.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
According to the official statement, the launch was backed by a number of well-known partners, including Universal Pictures, Fox Corporation, Selfridges, music producer Timbaland’s Beatclub, gaming platform FaZe Clan, and Snoop Dogg’s Death Row Records.
Notably, the new product will provide large organizations the opportunity to operate, build, and mint hundreds of millions of non-fungible tokens (NFTs), in an effort to scale up operations.
As stated on the official website, HyperMint is a “self-service, developer-focused platform” that aims to solve the challenges of building Web3-related strategies amid the troubling times of scaling management and the sale of NFTs.
During the Bitcoin (BTC) conference, MoonPay CEO implied that utility non-fungible tokens (NFTs) will provide a helping hand to various companies in shifting from “targeted advertising to reach customers to one based around long-term ownership, engagement, and authenticity.”
Soto-Wright also pointed out that MoonPay seeks to expand itself and become a Web3 infrastructure business.
The product launch comes amid the current crypto market turmoil, however, the founder of MoonPay highlighted the fact that everything will work out in the end:
“It’s been a rough few months for crypto. 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.”
In other news, earlier in June, a French-based company selling clothing and footwear Lacoste fired up a new NFT project UNWD3 where participants had the opportunity to mint a total of 11,212 digital pieces, giving a clever nod to the brand’s iconic polo shirt dubbed L1212.
