- Launch partners include Fox, Creative Artists Agency and Universal Pictures
- The platform intends to lower barriers to entry into Web3 for developers
Crypto payment services provider MoonPay announced the launch of a new self-service platform called HyperMint that enables large companies and brands to create, manage and mint utility NFTs at scale. MoonPay CEO Ivan Soto-Wright debuted the new product in a keynote address at Radio City Music Hall during the NFT.NYC conference Tuesday.
The following partner brands will leverage HyperMint’s advisory services and distribution capabilities: Fox Corporation, Creative Artists Agency (CAA), Universal Pictures, music producer Timbaland’s Beatclub, and lifestyle and gaming platform FaZe Clan.
British luxury department store Selfridges, in collaboration with fashion house Paco Rabanne, has also used HyperMint to create NFTs (non-fungible tokens) tied to physical merchandise and access to in-person events.
Creators, brands and enterprises often struggle with “project-killing complexity, untrusted systems and partners, and prohibitive costs,” MoonPay said in a statement.
Other challenges include strategy development, scaling, and the deployment and sale of utility NFTs worldwide.
HyperMint is designed to help users avoid those obstacles, the company said. It allows NFT creators to quickly take their ideas to market, eliminating reliance on third-party developers. The company stated that HyperMint can mint hundreds of millions of utility NFTs in a day.
Moonpay wants to be known not just as a payment infrastructure company but as a Web3 infrastructure company, Soto-Wright said on stage.
HyperMint should play the same role for Web3 that Amazon’s cloud computing service Amazon Web Service (AWS) did for Web2, MoonPay said, to help companies rethink their industries and underpin the future of Web3.
The Web3 space has “a long way to go to elevate the content of NFTs around real-world utility and functionality,” Soto-Wright said.
MoonPay’s other products include NFT Checkout — which lets users buy NFTs with credit and debit cards — and MoonPay Concierge, a referral-based service for high net worth individuals that purchases crypto and blue-chip NFTs on their clients’ behalf for a fee.
In April, the company revealed that $87 million of the $555 million they raised in a Series A round came collectively from more than 60 public figures and celebrities, artists and athletes.