A Vending Machine In New York Starts Selling Solana NFTs

Time Stamp: February 23, 2022 10:23 AM
Source Node: 1184807

A vending machine in New York starts selling Solana NFTs in person with a credit card and there’s no crypto required as we can see further in our latest blockchain news.

The Solana NFT marketplace NEON allows you to buy NFTs in person with a credit card and no crypto is required. The digital world of NFTs is getting into everyday life thanks to the Vending machine that starts selling NFTs as it closed a $3 million seed round last month. The company launched the first NFT vending machine located at 29 John st In Manhattan and now the vending machine is open 24 hours a day and allows the collectors to buy Solana NFTs with fiat.

NFT ATM

The NFTs are unique blockchain-based tokens that signify ownership over an asset and they exploded in popularity with an ETH-based marketplace OpenSea claiming over $5 billion in sales a month ago. Both OpenSea faced a fair share of challenges and lawsuits so competing NFT marketplaces are looking to offer something different to the average consumer. The Neon CMO and co-founder Jordan Birnholtz said he had the idea for an NFT vending machine with Drew Levine in mid-2021 wanting to make buying an NFT as easy as possible:

“My thought was that there is literally no simpler way to buy something than a vending machine. We built it because it shows how powerful and easy it can be to support digital artists, and to demystify the process of getting an NFT.”

Neon’s method allows buyers to go to a vending machine and buy an NFT using Visa or Mastercard credit cards or with the Samsung Pay or Apple Pay mobile apps so the buyer uses a smartphone camera to scan the QR Code inside the dispensed item and claim the NFT online. Birnholtz said:

“Neon started with fiat because our mission is unique, to bring digital art and collecting to the largest possible audience.”

Purchasing an NFT can be a daunting task to those that are new to Web3. users have to go through crypto exchanges transfer their crypto to digital wallets and connect the wallets to the online NFT marketplaces. There are other friction points as well like needing to pay gas fees or having to deal with wrapped crypto. Neon plans to offer crypto as a form of payment as Birnholtz noted:

“We will accept crypto later this year and are building that now.”

Neon’s vending machine is more like a physical alternative to the online NFT minting process that involves blind purchasing tokens without knowing which ones you will get.

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