MoonPay to Launch NFT Platform ‘HyperMint’ with Universal & Fox
MoonPay CEO Ivan Soto-Wright announced the launch of an NFT platform dubbed HyperMint at Radio City Music Hall during NFT.NYC. The platform's launch is accompanied by a number of high-profile collaborations, including Fox Entertainment, Universal Pictures, and Snoop Dogg's Death Row Records.
The new platform allows big brands, agencies, and organizations to mint hundreds of millions of NFTs every day, allowing them to scale up an activity that previously took months utilizing blockchain technology. It was publicly announced on Tuesday during a keynote speech given by MoonPay CEO Ivan Soto-Wright at Radio City Music Hall as part of this week's NFT.NYC conference in New York City.
According to Soto-Wright, the promise of non-fungible tokens (NFTs) extends beyond collecting to utility. The new NFT platform will assist this emerging industry in transitioning from collecting to utility and will provide businesses with "enterprise-grade tooling."
The platform and its underlying technology represent a significant possibility for legacy businesses such as Universal and Fox, which own decades of intellectual property.
This functionality, as other sources have noted, is great for corporations with decades of intellectual property, such as Fox Entertainment and Universal Pictures. With HyperMint's new product, these businesses may produce millions of NFTs every day, allowing them to reach a broader audience faster.
In this instance, HyperMint is part of MoonPay's objective, which includes a portfolio of "crypto-as-a-service" solutions that benefit Web3 infrastructure. As of now, no timeframe for the launching of the new NFT platform or the first NFT collections has been disclosed. At debut, the marketplace will support three blockchains, including Ethereum and Solana, according to Soto-Wright.
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