myNFT, the low-cost, multichain NFT marketplace that’s bringing non-fungible tokens to the masses, exhibited Europe’s first physical NFT vending machine at the NFT.London conference on 3 and 4 November.
The NFT vending machine’s first outing saw 390 NFT’s sold over the two days (one NFT sold every two minutes), raising £3,900 for charity Giveth, who fund public goods and services and education in developing nations, and Roald Dahl’s Marvellous Children’s Charity, who provide specialist nurses to seriously ill children.
The vending machine got a great reception with celebrities and influencers such as Ant Middleton and @andythenguyen also giving it the thumbs up.
What a conference!
NFT London 2022 was amazing, the myNFT team had a fantastic time, we're very grateful to the organisers – @NFT_NYC and all of our #MYNFTVENDINGMACHINE partners.We'll be posting more about the conference next week and releasing more videos/content for you! pic.twitter.com/q3ULKgXo0k
— myNFT (@myNFT) November 4, 2022
To buy an NFT through myNFT’s vending machine, customers simply had to select one of the envelopes on display, then key in the code provided. After paying £10 via Apple Pay, Google Pay or an alternative contactless payment method, they received a card with a QR code.
Once they’d set this up, complete with an NFT wallet, they received their NFT that could be worth up to £1,000. myNFT’s first NFT collection included an assortment of iconic NFTs, created by brands including Dr. Who Worlds Apart, Thunderbirds, Delft Blue Night Watch and many others.
Breaking barriers to entry
One of myNFT’s major goals was to eliminate any barriers to entry in the NFT space. It wants to provide an easy way in for anyone who wants to start buying and trading digital assets. The vending machine symbolised the simplicity of myNFT’s platform, creating a fun and engaging process for acquiring NFTs.
“There is so much potential in the NFT market and it’s such a shame to see some of that go to waste when possible new entrants are put off getting involved by various unnecessary and complicated barriers. From gas fees, gatekeeping knowledge, to having to set up a complicated digital wallet and more, great opportunities are being denied and squandered to newcomers,” Hugo McDonaugh, co-founder of myNFT, said in a statement.
“We’re determined to turn NFTs into an everyday activity for everyone, and break it out of its current clique”, McDonaugh added. “The best way for the sector to grow is through popular involvement, and we’re only going to achieve that by breaking down barriers. Our unique vending machine, the only one in Europe, is a fun and quirky way to demonstrate that.”
myNFT is now looking to find a more permanent home for its vending machine. “We have also been asked by several events if they can have the vending machine for their events around the world,” McDonaugh added.
Future expectations
myNFT is currently live in Beta. Customers can already visit the platform in order to buy and sell any NFT on the Ethereum, Moonbeam, Moonriver, Polygon and Binance Smart Chain Networks. They can also use the new GBM auction system to sell their NFTs. There are also many other features in the pipeline that are coming soon to myNFT. These include next generation NFT minting tools, multi-currency NFT listings, token-gated experiences and the integration of other blockchain networks to the platform.
