MoonPay announced a partnership with Fox, Universal Pictures, Snoop Dogg's Death Row Records, and other companies on Tuesday to launch its new NFT platform, HyperMint.
Companies will be able to mint hundreds of millions of NFTs on a daily basis, speeding up a process that used to take weeks or even months.
"The utility of NFTs outweighs their collecting potential." "Over time, you can basically program anything into these NFTs, which is why we decided to focus on this new product offering," MoonPay CEO Ivan Soto-Wright told CNBC in an interview.
MoonPay was founded in 2018 with the goal of making NFTs more accessible to the general public. The organization catered to those just getting their feet wet in the metaverse by allowing them to buy digital collectibles using traditional payment methods like credit cards and mobile wallets.
Crypto has recently taken a hit, but Soto-Wright sees this as an opportunity for large corporations to invest.
"I've seen a lot of different cycles before." I've seen this film. There will always be periods of volatility. "It's a completely new asset class, and we have a completely new subset of that asset class, which is NFTs," he explained.
Stay tuned for more information on HyperMint as it is revealed at NFT.NYC this week!
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