In a new twist for the space, Solana-based nonfungible token marketplace Neon has deployed an NFT ATM in the financial district of New York, giving people a very familiar way to acquire the tokens.
In an interview with Cointelegraph, Jordan Birnholtz, co-founder and chief marketing officer of Neon, shared the story of how the NFT ATM came to life. According to Birnholtz, the idea came as his team members were having lunch.
Birnholtz himself is a growth marketer, and his business partner Kyle Zappitell is a former Xbox Mobile gaming engineer “who is passionate about using software to create fun and accessible experiences,” he explained. But the idea of an NFT ATM was pitched during a lunch with the team’s intern Drew Levine last fall.
The NFT ATM works very similarly to traditional ATMs. You can purchase NFTs through the machine with your credit or debit card, and it will dispense boxes that contain unique codes that you can redeem through Neon’s platform. Much like Easter egg capsules, buyers will not know what NFT they’re getting until they redeem it.
User Drifter1117 shared his experience on Twitter, along with some photos of the NFT ATM:
Birnholtz explained that the company picked the Solana blockchain for its marketplace because it was inexpensive. “We think Solana is the best chain to build on because it is inexpensive to use, opening up huge opportunities for more creators, and carbon neutral.”
He also noted that the company is planning to bring more artists to its platform and open more NFT ATMs in different cities. “NFTs are going to let a variety of visual, multimedia and performing artists create new ways to build relationships with and monetize their audience,” said Birnholtz.
“I think this is part of a broader trend that is merging crypto techniques with the focus on supporting creators more directly we see at Substack and Patreon. We’re excited for the explosion in NFT opportunities in the coming years.”
Meanwhile, despite recent crypto market dips, NFT sales continue to grow. According to recent reports, NFT trading generated $11.9 billion in the fourth quarter of 2021. The growth corresponds with recent reports of China taking an interest in NFTs and separating it from crypto.