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NYC debuts first Non-Fungible Token ATM

NYC debuts first Non-Fungible Token ATM

They say timing is everything… One assumes, in a bid to cash in on the Non-Fungible Token (NFT) craze that was (prior to a monster sell off), New Yorkers interested in buying NFTs can now do so 24/7 at a vending machine in the financial district.

Non-Fungible Token ATM

NFTs, are non-interchangeable units of data stored on a blockchain than can be traded or sold.

NFTs can be used to store and trade many types of digital files, such as works of art, documents, photos, videos, audio files and more.

Neon, an NFT platform, has introduced an NFT vending machine in Manhattan’s financial district.

An image of the machine on LinkedIn shows neon graphics of the words: “Buy Colors,” “Buy Pigeons” and “NFT ATM.”

The user makes an Non-Fungible Token selection, then pays using a debit card, credit card, Samsung Pay or Apple Pay. The machine then dispenses a box with a code in it for the selected NFT.

The user then scans the code on the box and redeems the NFT on the Neon platform.

But there’s a twist. When you buy this digital art, you don’t know what you’re going to get.

“It’s the crypto curious, the people who tried to buy cryptocurrency or they were interested in buying an NFT, but they just hit too many barriers,” Neon CEO Kyle Zappitell said of the vending machine’s target customer.

A cryptocurrency wallet is not required to purchase an NFT from the machine.


The post NYC debuts first Non-Fungible Token ATM appeared first on Payments Cards & Mobile.

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