Crypto Startup, MoonPay has decided to launch its NFT platform in partnership with Universal Pictures, Fox Corporation and other brands too. This NFT platform will be called HyperMint. MoonPay CEO Ivan Soto-Wright on June 21 has announced the launch of this Non Fungible Token platform.
Primarily HyperMint shall help many big companies, brands and other creative agencies to create and also mint Non Fungible Tokens.
This will act as a scaling operation and will be responsible for enabling other brands. It had earlier taken on the scaling operation using the blockchain technology, however, this time MoonPay has finally done it.
Partners include Selridges, Timbaland’s Beatclub music producer among other names. MoonPay will help evolve the infrastructure of the Web3. HyperMint will allow brands and companies to connect more with users and also help them monetize Intellectual Properties (IPs). Supposedly, the platform will let users mint several utility NFTs in a day.
What Is The NFT Platform All About Then?
MoonPay’s HyperMint is a self-service, developer focused platform which will boost the infrastructure of the Web3. At this point, it remains difficult to scale the management of Non Fungible Tokens, there are also issues with creation and sale of NFTs all across the globe.
Brands and several big companies have faced difficulties to make their own Web3 strategy, hence HyperMint will step in to help solve these issues.
HyperMint and the underlying technology shall be helpful because it will provide big opportunities for large brands such as Universal and Fox who have decades of intellectual property. Non Fungible Tokens are digital assets which are real-world objects such as music, art or even real estate.
NFTs cannot be replicated. Many brands such as Nike, Gucci and Coca Cola among others have entered into the Non Fungible Token space and incorporated marketing initiatives surrounding the same.
CEO of MoonPay stated,
Utility NFTs are going to go way beyond collectibles and towards real-world functionality, They will help companies, brands, and creative agencies move from using targeted advertising to reach customers to one based around long-term ownership, engagement, and authenticity. And MoonPay’s HyperMint is the enterprise-level infrastructure that will make that monumental shift possible.
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Gateway To Digital Assets
MoonPay had pitched to investors that the NFT platform will provide a “gateway” to the digital assets. At the current time, it includes Bitcoin, Ethereum and many other digital assets including Non-Fungible Tokens (NFTs).
Despite the increased volatility and extreme risky investor environment which caused hindrances in cryptocurrency trading, MoonPay’s mission to expand the NFT platform which will include A to Z of everything digital.
Universal Pictures will be using these utility Non Fungible Tokens that will help to foster customer engagement. The Fox Corporation will use the platform to expand into the future and also strengthen its Web3 development plans. Selfridges, a luxury department store, will be using the NFTs with the platform to celebrate artist Victor Vasarely.
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Featured image from UnSplash, chart from TradingView.com