MyNFT To Launch the First-Ever NFT Vending Machine in Europe

Subh Rath

November 7, 2022

MyNFT is a low-cost, multichain non-fungible token (NFT) marketplace that brings NFTs to the masses. It has announced that it will show off Europe’s first physical NFT vending machine at the NFT.London conference, which was held between November 2nd to November 4th.

In honor of the debut of the myNFT platform, the business has constructed a physical NFT vending machine that allows anyone, regardless of a digital wallet, to buy an NFT in seconds. Customers can select an NFT from myNFT’s initial collection of donated NFTs for a one-time price of £10. Some of the NFTs in this collection are worth up to £1,000, and consumers can select any NFT they desire.

Customers will have the opportunity to select an NFT from myNFT’s debut collection. After making their selection, customers can flaunt their one-of-a-kind new NFT to their peers or trade it with other customers using myNFT’s trading platform.

Key Takeaways:

  • The Queen Elizabeth II Centre in Westminster, London, will house the actual NFT vending machine, which will be visible to conference attendees as they leave the NFT.London convention center. This means that anyone, not only ticket holders, can use the machine to buy up to five NFTs, a limit set to ensure that the machine is accessible to those who would like to use it.
  • The revenue generated from the NFT vending machine will be donated. This donation will be made to Giveth, which funds public goods, services, and education in underdeveloped nations, and Roald Dahl’s Marvellous Children’s Charity, which offers professional nurses to seriously ill children.
  • Customers can buy an NFT from myNFT’s vending machine by picking one of the shown envelopes and entering the code. After paying £10 with Apple Pay, Google Pay, or any contactless payment option, they can open the envelope and scan the QR code. They can then sign up for a free myNFT account, which includes an NFT wallet, to receive their NFT, which may be worth up to £1,000.
  • One of MyNFT’s primary goals is to remove barriers to entry in the NFT space, making it simple for anyone to begin buying and trading digital assets. Its unique vending machine represents the platform’s simplicity, resulting in a fun and engaging process for acquiring NFTs.
  • The myNFT platform will allow customers to purchase NFTs with fiat currency through an onramp to ensure that anyone can participate. Furthermore, purchasing NFTs on the platform will be a fun and rewarding experience, thanks to MyNFT’s unique, patent-pending ‘bid-to-earn’ GBM auction system, which ensures that users land the item they’re bidding for or earn a reward for participating in the auction.

MyNFT Overview:

myNFT is a new NFT platform aimed at making technology more accessible. It’s a multichain marketplace where myNFT customers can eventually create, trade, and migrate NFTs using any cryptocurrency and at a low cost across any blockchain. This is due to MyNFT’s distinct sidechain architecture, which uses the Moonbeam and Polkadot tech stacks.

Hugo McDonaugh, Edouard Bessire, and Guillaume Gonnaud, three university friends and entrepreneurs who have been in the NFT space since its inception, founded the platform. Cryptograph, their first NFT platform, was used by dozens of Hollywood stars to create and sell their first NFTs to raise funds for charity. 

Through their work on Cryptograph, the founders encountered numerous obstacles in the NFT space, such as high gas fees, a cumbersome user experience, poor cryptocurrency exchange rates and mechanisms, and more. The team’s response to these issues is myNFT, a rethought NFT marketplace with a user-friendly interface, a lively auction system, and a fiat onramp that ensures anyone can participate.