Published: June 22, 2022
MoonPay, a Miami-based crypto startup company, revealed on Tuesday that it would be partnering up with Universal Pictures, Fox Corporation, and Snoop Dog’s Death Row Records, among other names. The purpose of this is to launch a brand new NFT platform — HyperMint.
It’s said that the new platform would enable agencies, large brands and enterprises to mint hundreds of millions of NFTs daily, which would’ve taken months previously, with blockchain technology. The launch was formally announced later at the Radio City Music Hall.
The main idea behind the partnership lies in the enormous potential big names like Universal and Fox hold in the form of their decades-worth of intellectual property.
The partnership would also tie perfectly into the rising hype around the NFTs among industry giants in many fields. The catalog of those brands continuously extends and includes names such as Coca-Cola, Nike, Gucci, and McDonald’s.
MoonPay’s software allows users to buy and sell cryptocurrencies using standard means of payment, such as credit cards and bank transfers.
The start-up is also known for selling its technology to other businesses, such as OpenSea and Bitcoin.com, using the model “crypto-as-a-service.”
According to Soto-Wright, the CEO of MoonPay, the company’s goal is to make cryptocurrency widely accessible, likening it to Zoom’s impact in simplifying online video calls, which boosted its market share.
The company has been profitable since the launch of its platform back in 2019. Its newest product, HyperMint, launches amid the highly volatile and unpredictable period for the crypto market, with two major coins dropping $60 billion in value just last month.
MoonPay’s services are now being used by more than 10 million users worldwide, and more than 60 celebrities have invested in it, including Gwyneth Paltrow, Ashton Kutcher, and Snoop Dogg, among others. The current value of the company sits at $3.4 billion.