In a recent turn of events, the crypto startup MoonPay has launched an NFT platform with Universal Pictures and other prominent names in the industry. The crypto startup MoonPay announced on Tuesday that it is partnering with Universal Pictures, Snoop Dogg’s Death Row Records, Fox Corporation and a few other brands to launch a unique NFT platform called HyperMint.
HyperMint – The NFT Platform
HyperMint will enable large brands, enterprises and agencies to mint hundreds of millions of NFTs every day to scale up their operations. The project will decrease the minting time considerably by scaling up the operations and proficiency.
This underlying technology and the platform will present an excellent opportunity for legacy brands such as Universal and Fox that have decades’ worth of intellectual properties in their vaults. MoonPay CEO Ivan Soto-Wright said,
“The potential of NFTs goes beyond collecting; it’s the utility. You can essentially program anything into these NFTs over time, which is why we decided to focus on this new product offering. That’s really making this shift possible; to go beyond collectability and program utility into these NFTs and there needs to be enterprise-grade tooling.”
He further added, “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.”
Soto-Wright founded MonPay in 2018 and allows users to purchase and sell cryptocurrencies using conventional payment methods such as bank transfers, credit cards, and mobile wallets such as Apple Pay and Google Pay. The new NFT platform by MoonPay can potentially disrupt the NFT industry by offering a more productive and efficient way to mint mass NFTs.
Moreover, as the cryptocurrency industry regains its footing, the development in the NFT industry has been massive, giving HperMint an excellent market to work with.