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MyNFT Exhibits Europe’s First NFT Vending Machine

MyNFT, a multichain NFT marketplace, has exhibited Europe’s first nonfungible token (NFT) vending machine during the recent NFT.London conference.

It has been reported that the machine sold 390 NFTs, raising £3,900 in two days, between 3 and 4 November. All the proceeds went to charities ‘Giveth’ and Roald Dahl’s ‘Marvellous Children’s Charity.’

However, MyNFT exhibited the NFT vending machine at the Queen Elizabeth II Centre in London’s Westminster. The idea behind the initiative was to make NFTs more accessible to the general public. In other words, anyone could buy NFTs without needing a digital wallet. Each NFT cost £10.

The report said that once the payment was made, the machine would issue an envelope with a unique code. Buyers could then use the code to redeem the NFT on the myNFT marketplace. The platform donated the proceeds to Giveth and Roald Dahl’s Marvellous Children’s Charity. While the former is a charity supporting public services and education in developing nations, the latter aids ill children with specialty nurses.

Hugo McDonaugh, the co-founder of myNFT, said:

“There is so much potential in the NFT market and it’s such a shame to see some of that go to waste when possible new entrants are put off getting involved by various unnecessary and complicated barriers. From gas fees, gatekeeping knowledge, to having to set up a complicated digital wallet and more, great opportunities are being denied and squandered to newcomers.”

Thus, currently in Beta, myNFT is a multi-chain marketplace where users can buy and sell NFTs via the bid-to-earn GBM auction system. As of now, it supports blockchains Ethereum, Moonbeam, Moonriver, Polygon, and Binance Smart Chain Networks. According to McDonaugh, the platform aims to break down the barriers to entry to the NFT world.

Source: NFT Evening



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