Crypto payment services provider MoonPay has introduced a self-service platform named HyperMint, aimed at simplifying the process for large companies and brands to create, manage, and mint utility NFTs at scale. This innovative launch was showcased by MoonPay CEO Ivan Soto-Wright during a keynote address held at Radio City Music Hall as part of the NFT.NYC conference.
Among the notable launch partners leveraging HyperMint’s capabilities are Fox Corporation, Creative Artists Agency, Universal Pictures, music producer Timbaland’s Beatclub, and the lifestyle and gaming platform FaZe Clan. Additionally, British luxury department store Selfridges collaborated with fashion house Paco Rabanne to create NFTs that are tied to physical merchandise and exclusive access to in-person events using HyperMint.
MoonPay has highlighted several challenges that creators, brands, and enterprises often face when navigating the NFT landscape. These challenges include complexity, reliance on untrusted systems and partners, and high costs, which can lead to project failures. Other obstacles noted are difficulties in developing strategies, scaling efforts, and effectively deploying and selling utility NFTs across global markets.
To address these issues, HyperMint aims to empower NFT creators by enabling them to bring their ideas to market swiftly, without depending on third-party developers. The platform boasts the capability to mint hundreds of millions of utility NFTs in a single day, thereby streamlining the production process for users.
Soto-Wright emphasized MoonPay’s ambition to transform its identity from merely a payment infrastructure provider to a comprehensive Web3 infrastructure company. He drew comparisons between HyperMint and Amazon’s cloud computing service, AWS, suggesting that HyperMint could fulfill a similar role in the Web3 space, facilitating businesses to rethink their operational models and shaping the future of Web3.
Soto-Wright also underscored that the Web3 ecosystem still has significant progress to make in enhancing the tangible functionality and real-world utility of NFTs. Emerging products from MoonPay include NFT Checkout, which allows users to purchase NFTs using credit and debit cards, and MoonPay Concierge, a service that facilitates crypto and blue-chip NFT purchases for high-net-worth individuals on an advisory basis.
In a previous funding round, MoonPay raised $555 million, with $87 million coming from over 60 public figures, celebrities, artists, and athletes, further solidifying its position within the rapidly evolving NFT landscape.
