When purchasing NFTs or any crypto, digital, or virtual currency, the process can be quite challenging as many sites on the blockchain seem like scams. Now, MyNFT launched Europe’s first NFT vending machine to help people purchase their NFTs quickly and easily.
Europe’s first NFT vending machine was available from the second to the fourth of November 2022 at the NFT.London conference.
MyNFT Vending Machine At The NFT.London Conference
One of the biggest reasons NFTs are less popular is their purchasing process can be complicated. A vending machine can be put anywhere in the world. Soda vending machines are popular and easy to use; that was the thinking of Hugo McDonough, co-founder of myNFT. Hugo stated, “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.”
The NFT vending machine was located outside the conference and the Queen Elizabeth II Centre, Westminster, London. Brands like Doctor Who Worlds Apart, Thunderbirds, and Delft Blue Night Watch donated NFTs to launch the vending machine in London. Customers can buy an NFT for a flat rate of just £10. Anyone could have bought themselves an NFT for just £10.
How Does The MyNFT Vending Machine Work
Payments on the MyNFT vending machine can be made using payment software like Google pay, Apple pay, and many others. The idea for having so many different payment options is to make the purchase of an NFT more accessible to the everyday person. MyNFT partnered up with the Web3 platform, Realty+, which helps brands leverage blockchain technologies for use with NFTs.
Buyers receive a QR code that sends them to create a free MyNFT account, which also includes a free digital wallet.
The co-founder Tony Pearce made a parallel between the humble vending machine and the decentralized nature of the blockchain with its disturbing network. Tony Pearce stated, “The humble vending machine may seem like an analog, old-fashioned form of delivery, but far from it! It’s been providing us with wholly owned and decentralized items for years, albeit mostly with items of food and drink we, unfortunately, cannot yet trade on myNFT. One of the main focuses in this space is addressing mainstream adoption. Bringing the mainstream on board requires simplicity and familiarity, which the NFT vending machine enables through a form of distribution that many people worldwide are familiar with. We’re indeed excited to be a part of this innovative approach to NFT distribution, featuring alongside other fantastic projects and artists to showcase a use case of NFT accessibility in London.”
MyNFT And Its Work With Charities
The founders of MyNFT also created Cryptograph, a platform where celebrities and artists can raise money through auctions for charities. So with their new project, the MyNFT team decided that all proceeds from selling the NFTs would be donated to charities.
All proceeds went to the Giveth organization. This organization is focused on funding public goods using the blockchain to help fund projects like Roal Dahl’s Marvelous Children’s Charity.
How Can MyNFT Change The NFT and BlockChain World
As more people will have the opportunity to buy NFTs, the buying pool for sellers will grow. This means that the demand for NFTs has the potential to grow, which means the value of the NFTs will increase.
Also, with the ease of purchase with the MyNFT Vending machine and its multiple payment systems, the perception of NFTs being a bit dodgy to buy can change as people have started to use cryptocurrencies and understand how the system works and the benefits of using the digital marketplace.