myNFT to unveil its physical NFT vending machine at NFT.London event | The Financial Express

myNFT to unveil its physical NFT vending machine at NFT.London event

According to Cointelegraph, the NFT platform aims to provide a way for people who intend to buy and trade in digital assets without requirement of knowledge around the Web3.0 industry

myNFT to unveil its physical NFT vending machine at NFT.London event
Collections from the NFT vending machine is expected to be distributed among Giveth, a blockchain-oriented philanthropic community

Multi-chain non-fungible token (NFT) marketplace myNFT has made the announcement of showcasing its debut physical NFT vending machine at this year’s NFT.London event scheduled to take place for November 2-4, 2022, as reported by Cointelegraph.

According to Cointelegraph, the NFT platform aims to provide a way for people who intend to buy and trade in digital assets without requirement of knowledge around the Web3.0 industry. It is believed that the vending machine will permit users to purchase an NFT without a digital wallet. 

On the basis of information by Cointelegraph, users who desire to purchase an NFT using myNFT’s vending machine will be required to select one of the displayed envelopes, and then key in the code provided. Post payment, the users will be able to scan the QR code in the envelope, which will be accompanied by an invitation to set up myNFT account, complete with an NFT wallet for them to receive their NFTs. 

“The most accessible way to buy anything is through a vending machine and so we’re breaking the perception that buying an NFT is difficult via this initiative,” Hugo Mcdonaugh, CEO, myNFT, stated.

Moreover, Cointelegraph noted that the interested participants will be an NFT from myNFT’s inaugural collection of donated NFTs, which features brands such as Dr Who Worlds Apart, Thunderbirds, Delft Blue Night Watch, among others. The physical NFT vending machine is expected to be located outside the NFT.London conference venue, at the Queen Elizabeth 2 Centre, Westminster, London. Collections from the NFT vending machine is expected to be distributed among Giveth, a blockchain-oriented philanthropic community that provides funding to public goods, services and education in developing nations. In February, 2022, Solana-based NFT marketplace Neon introduced launched a 24/7 NFT vending machine in New York’s financial district which accepted both credit and debit cards payments.

(With insights from Cointelegraph)

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First published on: 27-10-2022 at 18:04 IST