Payment company MoonPay has once again confirmed its love for NFTs. Indeed, it has recently launched a platform that solves some of the scalability issues in the industry.
Hypermint to create limitless NFTs
MoonPay CEO Ivan Soto-Wright introduced the company’s new service called “HyperMint” on June 21, 2022. This service allows MoonPay’s partners, such as Fox Corporation or Universal Pictures, to issue a large amount of NFT quickly.
Thus, creators and brands can use this platform to mine up to 100 million NFTs in one go. In fact, they didn’t wait long to take advantage of this opportunity.
For example, the British luxury department store Selfridges, in collaboration with Paco Rabanne, has already used HyperMint to issue non-fungible tokens linked to merchandise or physical events.
Better control of intellectual property
MoonPay also wants to highlight another benefit of using its new service. HyperMint would allow its users to quickly launch their NFT projects, without necessarily needing a third-party developer.
In concrete terms, HyperMint users can issue tokens associated with images, music, videos or other metadata on their own platform.
In the words of Ivan Soto-Wright to The Block, big brands like Dolce & Gabbana don’t have to list their intellectual property “on a secondary platform” to mine an NFT.
MoonPay’s ambitions in Web 3
In the first quarter of 2022, MoonPay recruited engineers to create HyperMint. At the time, it presented the platform as the Amazon Web Services for NFTs.
With the official launch of the service, the company has taken another step toward realizing its vision of becoming a Web Infrastructure 3 company.
HyperMint now adds to the company’s web 3 offering. MoonPay now offers other NFT-related services:
NFT Checkout which allows its users to purchase NFTs with credit and debit cards;
MoonPay Concierge dedicated to large wallets that want to buy particularly rare NFTs and cryptocurrencies more easily. This service is only available by recommendation.
Will all crypto businesses eventually dive into NFTs? With the entry of reputable commercial companies into the sector, NFTs could quickly gain more legitimacy than Bitcoin (BTC) or major altcoins.