MoonPay launches utiliy NFT minting solution

Tuesday 21 June 2022 14:02 CET | News

Crypto payments firm MoonPay has launched a new service, HyperMint, which allows brands to mint up to 100 million non-fungible tokens (NFTs) at once.

The new service allows creators and brands to attach images, music, video, or other metadata to a token on their own platform. The official launch marks a step in the company's attempt to create a full suite for brands that wish to release their own digital assets, to become what it previously called the ‘Amazon Web Services for NFTs.’

Companies already signed up include Fox Corporation, Creative Artists Agency (CAA), Universal Pictures, Death Row Records, the United Kingdom-based luxury store Selfridges, lifestyle and gaming platform FaZe Clan and music producer Timbaland’s Beatclub. 

One potential use case, Soto-Wright said, lies in proof of attendance tokens, for capturing how many people attended an event. MoonPay emphasized that these digital assets would be utility tokens, which are distinct from security tokens. Security tokens must be registered with regulatory bodies such as the United States’s Securities and Exchange Commission.

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Keywords: cryptocurrency, NFT, blockchain, tokenization
Categories: DeFi & Crypto & Web3
Companies: MoonPay
Countries: World
This article is part of category

DeFi & Crypto & Web3


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