The NFT space is heating up again. Enthusiasts wanting to purchase non-fungible tokens, or NFTs, can now visit the Manhattan City ATM in the United States to purchase them 24/7. NFT, which largely existed in the format digital so far, will make its physical debut after Solana-based NFT marketplace Neon launched its first NFT vending machine.
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 things. The concept of NFTs exploded in 2021 and is often seen as the breakthrough year for NFTs.
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The NFT market has grown so rapidly that today the global market capitalization of NFT stands at 6,208,932,534.42 USD with a total global sales volume of 776,384.50 USD with over 8,964 total sales in the last 24 hours alone.
These mind-boggling figures of the digital NFT market may well be expanded with the debut of NFT ATM.
The NFT Vending Machine will be like any other vending machine and will be open 24 hours a day and will allow collectors to purchase Solana NFTs using fiat currency. Located near Wall Street, the NFT ATM, introduced by Neon, sells exclusive “Colours” NFTs for $5.99 and “Party Pigeons” NFTs for $420.69.
The Party Pigeons NFT collection is a creation by an artist called Typfy, while Colors NFT is a collection of colors that can be interchanged as a collage.
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One of the main features is that one does not have to depend on digital transactions and one can buy the tokens using debit or credit cards or scan a unique code inside the NFT chosen. Once scanned, users can redeem their respective NFTs on the Neon platform using the code.
With the NFT craze catching up, the brick-and-mortar model should make NFTs more accessible and understandable. As NFT ATM does not use cryptocurrencies for payment, even as a passive investor one can buy and hold them. Solana is a highly efficient and eco-friendly blockchain network that guarantees the safety and security of NFTs.
Jordan Birnholtz, CMO and co-founder of Neon, believes there is huge potential to increase viewership and artist engagement. The NFT ATM will empower creators and digital artists.