MyNFT to Launch First NFT Vending Machine in London

October 28, 2022

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Emerging Web3.0 startup and Non-fungible token (NFT) marketplace MyNFT announced the rollout of NFT vending machines in Europe slated for next week. The first NFT vending machine will debut at the NFT London Conference which is to be held next week at the Queen Elizabeth II Center. A few of the machines will be distributed outside the center.

Designed to animate NFTs, this move seems to be a means to bring digital collectibles closer to the average man.

NFT vending machines are a novel technology in the ecosystem, overstepping the spectrum of Bitcoin (BTC) Automated Teller Machines (ATMs) which have been present for a while but whose installation rate is now dwindling.

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Digital collectibles with different rarity ranks which will be featured in the vending machines are NFTs from the likes of Dr. Who Worlds Apart, Thunderbirds, and Delft Blue Night Watch. The price range of these NFTs will fall between the range of £10 to £100 unlike those put out in auction sales which cost millions.

MyNFT Brings NFT Adoption Closer

As announced, the growing NFT marketplace is looking to make transactions as democratic and accessible as possible, beginning with fusing this relatively new ownership concept with the old-fashioned vending machine.

Co-founder of MyNFT Hugo McDonaugh clarified that the vending machines are designed in a ‘fun and quirky way to demonstrate’ MyNFT’s goal of eliminating barriers standing in the paths of users who decide to make their foray the NFT ecosystem.

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He also added “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 investors are put off getting involved by various unnecessary and complicated barriers… We’re determined to turn NFT investment into an everyday activity, and break it out of its current clique.”

Future plans for the NFT vending machines are yet to be disclosed to the public. At the time of this writing, no mention has been made concerning plans to expand the offering to other regions. Meanwhile, NFTs are gradually becoming a point of interest for many brands and companies.

Luxury automobile brand Lamborghini released the third edition NFT of its World Tour series. Also, the blue-chip NFT project Azuki auctioned off the world’s eight most expensive golden skateboard NFTs about a week ago.