myNFT unveils physical NFT machine in London

by James · October 31, 2022

Table of Contents

Key highlights:

Multichain NFT marketplace, myNFT has announced plans to unveil Europe’s first ever physical NFT machine on NFT.London in the coming month.
myNFT plans to distribute the proceeds from the unusual NFT sale to notable charities.

Multichain NFT marketplace myNFT today announced the launch of its physical non-fungible token (NFT) vending machine scheduled to take place at NFT.London’s inaugural conference from November 2-4. This will see the platform unveil its services at NFT.London, an annual top-tier Web3 event.

myNFT is a London-based low-cost NFT marketplace that seeks to provide easier accessibility to the technology space. While in the beta testing phase, myNFT is on the move to give people the ability to buy and trade digital assets without having to be well versed in the Web3 industry.

Currently, myNFT allows customers to buy and sell NFTs on the Ethereum, Moonbeam, Moonriver, Polygon and Binance Smart Chain networks via its platform.

myNFT debuts Europe’s first ever physical NFT machine

In an effort to facilitate access to the NFT area without the necessary expertise, myNFT has decided to launch the physical NFT machine. The physical NFT machine allows users to purchase an NFT without a digital wallet, making purchasing NFTs hassle-free.

Basically, the machine works as an offline infrastructure that replicates an innovative approach to NFT distribution. Testimony about the NFT vending machine revealed that it has the potential to provide users with fully owned and decentralized goods, some of which include food and beverages not yet traded on myNFT.

myNFT's NFT machine

myNFT makes the purchase of NFTs available with a physical NFT machine.

Using myNFT’s physical vending machine to purchase an NFT simply requires users to select one of the displayed envelopes and then enter the code provided to trade NFTs. Users can then proceed to make a minimum payment of £10 via Apple Pay, Google Pay or any other possible alternative payment method.

Therefore, they can now open the envelope and scan the QR code. This will give them an automatic invitation to set up a free myNFT account, complete with an NFT wallet, where they will receive NFT, which can be worth up to £1,000.

According to the announcement, myNFT’s new vending machine apparently reflects the simplicity of the platform and its commitment to creating a fun and engaging process for buying and selling NFTs.

myNFT will distribute sales revenue to charities

myNFT will offer people exclusive access to the first NFT collection, as the vending machine will be available to everyone present at the NFT.London event and not just ticket holders. Even passers-by will be allowed to take advantage of the machine by purchasing up to five NFTs, a limitation designed to ensure that anyone who wants to has the chance to use the machine.

As such, there are tendencies that the platform will register a massive sell-off following the simple approach it has proposed to launch its first NFT collection. The collection is designed to feature unique symbols created by iconic digital brands, including the likes of Dr. Who Worlds Apart, Thunderbirds, Delft Blue Night Watch and others.

Nevertheless, the platform further disclosed that it will distribute all proceeds from this unusual NFT sale to recognized charities. This includes Giveth, a crypto-friendly foundation that funds public goods and services and education in developing countries. It is also Roald Dahl’s Wonderful Children’s Organization that supports specialist nurses for seriously ill children.

Hugo McDonaugh, co-founder of myNFT commented on the announcement, explaining myNFT’s vision and concerns regarding the NFT space. His comment reads:

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

McDonaugh further added, “we are determined to make NFTs an everyday activity for everyone, breaking it out of the current clique”, McDonaugh added. “The best way for the sector to grow is through popular involvement, and we will only achieve that by breaking down barriers. Our unique vending machine, the only one in Europe, is a fun and whimsical way to demonstrate it.”