Wednesday, December 6, 2023

MoonPay Crypto Firm Partnered With Universal Pictures For NFTs

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The MoonPay crypto company partnered with Fox Corporations and Universal Pictures to launch a non-fungible token platform that will enable brands and enterprises to produce their own digital artwork so let’s read more today in our latest cryptocurrency news.

The crypto payments company MoonPay joined forces with Death Row Records, Universal Pictures, and Fox Corporations to launch an NFT. The feature called HyperMint will allow companies to mint digital collectibles by using blockchain technology. In an interview with CNBC, Ivan Soto Wright the CEO of the company revealed that HyperMitn’s goal is to enable agencies and banks to join the NFT sector by releasing digital artwork:

“The potential of NFTs goes beyond collecting; it’s the utility. You can essentially program anything into these NFTs over time, which is why we decided to focus on this new product offering. That’s really making this shift possible; to go beyond collectability and program utility into these NFTs, and there needs to be enterprise-grade tooling.”

The executive argued that the initiative will be beneficial for MoonPay’s partners like Fox Corporations, Death Dow Records, and Universal Pictures. Founded in 1991 by Dr. Dre, Death Row released albums of rap icons like The Dogg Pound and 2Pac. Snoop Dogg bought the label aiming to revive its glory. For its part, MoonPay allows clients to buy and sell crypto using bank transfers, mobile wallets, and credit cards like Apple Pay and Google Pay. Despite the grim market conditions, the CEO of the MoonPay crypto firm remains bullish:

“It’s been a rough few months for crypto. I’ve seen many of these different cycles before. I’ve seen this movie. There’s always going to be periods of volatility. It’s a brand new asset class, and we have a brand new subset of that asset class, which is NFTs.”

The start-up closed $87 million fundraisers by celebrities such as Maria Sharapova, Justin Bieber, and Bruce Willis. MoonPay also interacted with other celebrities and often stood as the middleman for people that wanted to purchase NFTs. At the start of 2022, the company bought a zombie-themed CryptoPunk for 900 ETH worth $3 million at that time. Back in 2021, TV personalities Jimmy Fallon and Post Malone were revealed to be buying a Bored Ape NFT via MoonPay.

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