Now you can buy NFTs at brick-and-mortar store. See how

Follow us on Google News:
 Now you can buy NFTs at brick-and-mortar store. See how
Image source: Image source: © 2022 Kalkine Media®

Highlights

  • NFT will now be available at brick-and-mortar store after Solana-based marketplace Neon launched its first NFT vending machine.
  • The NFT ATM machine sells exclusive ‘Colours’ NFT for US$5.99 and ‘Party Pigeons’ NFT for US$420.69.
  • One of the key features is that one doesn’t have to depend on digital transactions and can purchase the tokens using debit or credit cards or scan a unique code inside the chosen NFT.

The NFT space is warming up again. Enthusiasts keen on buying non-fungible tokens, or NFTs, can now visit the vending machine in Manhattan City in the US to buy them 24X7. NFT, which was largely existed in the digital format till now, will make a brick-and-mortar debut after Solana-based NFT marketplace Neon launched its first NFT vending machine.

The NFTs can be defined as non-interchangeable units of data that can be sold and stored on a blockchain. NFTs can be anything, photos, videos, art forms, documents, videos, songs, audio files and similar stuff. The concept of NFTs exploded in 2021 and is often seen as the breakthrough year for the NFTs.

Also read: Why crypto assets market pose risk to global financial stability?

The NFT market has grown so rapidly that today, the overall NFT Market Cap stands at US$6,208,932,534.42 with an overall total sales volume of US$776,384.50 with over 8,964 total sales in the past 24 hours alone.

These mindboggling figures of the digital NFT market could well be expanded with the debut of the NFT ATM.

The concept

The NFT vending machine will just be like any other vending machine and will be open 24 hours and will allow the collectors to purchase the Solana NFTs using fiat currency. Located near Wall Street, the NFT ATM machine, introduced by Neon, sells exclusive ‘Colours’ NFT for US$5.99 and ‘Party Pigeons’ NFT for US$420.69.

The Party Pigeons NFT collection is a creation of an artist called Typfy, while Colors NFT is a collection of colours that can be traded in a collage form.

Also read: Will Disney redefine entertainment with metaverse?

One of the key features is that one doesn’t have to depend on digital transactions and can purchase the tokens using debit or credit cards or scan a unique code inside the chosen NFT. Once scanned, the users can redeem their respective NFTs on the Neon Platform using the code.

Advantages

With the NFT craze catching up, the brick-and-mortar model is expected to make NFTs more accessible and understandable. As NFT ATM doesn’t use cryptocurrencies for payment, even as a passive investor one can buy them and hold them. Solana is a highly efficient and eco-friendly blockchain network ensures that the safety and security of the NFTs.

Jordan Birnholtz, CMO and co-founder of Neon, feels that there is a huge potential to increase the artists’ audience and participation. The NFT ATM will empower the creators and digital artists.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles