According to Jordan Birnholtz, NFTs would allow artists to develop new ways to connect with and monetize their audiences.
In a novel twist for nonfungible tokens (NFTs), Neon, a Solana-based NFT marketplace, has installed an NFT ATM in New York’s financial centre, providing users a familiar way to obtain NFTs.
Jordan Birnholtz, Neon’s co-founder and chief marketing officer, spoke about how the NFT ATM came to be. The idea came to Birnholtz when his team members were eating lunch.
Birnholtz is a growth marketer, and his company partner, Kyle Zappitell, is a former Xbox Mobile game engineer “passionate about utilising software to build exciting and accessible experiences,” according to him. Last fall, though, the notion of an NFT ATM was discussed over lunch with the team’s intern Drew Levine.
The NFT ATM functions in a similar way to traditional ATMs. You can use your credit or debit card to buy NFTs at the machine. It will distribute boxes containing one-of-a-kind codes that may be redeemed on Neon’s platform. Buyers will not know what NFT they are buying until they redeem it, similar to Easter Egg capsules.
On Twitter, user Drifter1117 reported his experience as well as some photographs of the NFT ATM:
#NFT ATM in #NYC wow!!! Make sure you #crypto folk check out @neon_gallery when you are in the city. This concept is epic and I can't wait to see what is next. I just picked up three "Project Color" #NFTs and soon hopefully a "Party Pigeon" 😎. I love this! pic.twitter.com/vUVXasmvmf
— DRIFTER (@DRIFTER1117) February 28, 2022
The Solana blockchain was chosen for the Neon marketplace because it was affordable, according to the CMO. “We believe Solana is the greatest chain to build on because it is low-cost to use, allowing more producers to participate, and it is carbon-neutral.”
He also mentioned that they intend to add more musicians to their platform and open additional NFT ATMs across the country. “NFTs will enable a wide range of visual, multimedia, and performing artists to develop new ways to connect with and monetize their audiences,” Birnholtz adds.
“I believe this is part of a larger movement that is combining crypto technology with an emphasis on directly supporting creators, such as Substack and Patreon.” We’re looking forward to the influx of NFT opportunities in the future years.”
Despite recent crypto market downturns, NFT sales continue to rise. NFT trading generated $11.9 billion in the fourth quarter of 2021, according to current reports. The increase coincides with recent claims that China is interested in NFTs and wants to separate them from crypto.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.