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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.
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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 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.
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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.
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.
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