Crypto payments startup MoonPay has teamed up with Fox Corporations, Universal Pictures and Death Row Records to launch a non-fungible token platform. The feature, called HyperMint, will allow companies and individuals to mint millions of digital collectibles every day by using blockchain technology.
MoonPay enters the NFT world
In a recent interview with CNBC, MoonPay CEO Ivan Soto-Wright revealed that HyperMint’s main goal is to enable institutions, businesses and big brands to join the NFT space by publishing their own digital artwork.
“The potential of NFTs isn’t limited to collection; it’s utility. You can basically program anything into these NFTs over time, which is why we decided to focus on this new product. It really makes the shift Make it possible. In order to move beyond collectability and program utility into these NFTs, there needs to be enterprise-grade tools,” he commented.
The executive also believes that the plan will be particularly beneficial to MoonPay’s partners – Fox and Universal Pictures and US record label – Death Row Records.
Founded in 1991 by Dr. Dre and other musicians, Death Row released rap icon albums including 2Pac and Tha Dogg Pound. Snoop Dogg bought the brand earlier this year with the intention of reviving its past glory.
For its part, MoonPay allows customers to buy and sell cryptocurrencies using bank transfers, credit cards, or mobile wallets like Apple Pay and Google Pay. Despite the current dire situation in the digital asset market, Soto-Wright remains bullish, saying this phase is part of its nature:
“It’s been a rough few months for cryptocurrencies. I’ve seen many different cycles like this before. I’ve seen this movie. There are always periods of volatility. It’s a whole new asset class and we own that asset A whole new subset of the category, NFTs.”
Outstanding Investor in MoonPay
Two months ago, the startup closed an $87 million fundraiser led by a slew of celebrities, including former tennis champion Maria Sharapova, Canadian singer Justin Bieber, Hollywood actor Bruce Willis and rapper History. Nubi dog.
Additionally, MoonPay has interacted with many other celebrities over the years and often acts as a middleman when these people buy NFTs.
In early 2022, the company purchased a zombie-themed CryptoPunk for 900 ETH, worth about $3 million at the time. MoonPay created a Twitter poll where users could “guess” who the actual owner of digital artwork was. Predictions range from popular basketball players to famous chef Gordon Ramsay.
In 2021, TV personality Jimmy Fallon and American rapper Post Malone revealed that they purchased Bored Ape NFTs through MoonPay.
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