Neon, a Solana-based NFT marketplace, is looking to take NFT sales off the internet.
Located at 29 John Street in New York City, anyone can walk up to the NFT ATMs and buy with a credit or debit card. A mystery NFT is dispensed from the selected collection, and the new holder can input a code to receive the Solana chain-NFT in their SOL crypto-wallet.
— allsee (@allseeeth) March 3, 2022
This is an attempt to make NFTs more accessible to the masses. Instead of new collectors needing to:
- Open non-custodial Crypto Wallet
- Open CEX account
- Fund CEX with Fiat
- Buy Crypto with Fiat
- Transfer Crypto to non-custodial Crypto Wallet
- Buy NFT
- Wallet Receives NFT when the transaction is confirmed on-chain
They simply need to do the last two steps with the NFT ATMs. Of course, platforms like Moonpay are also attempting to break down the barrier to entry into NFT collecting. All of these efforts combined are a great start to teaching new collectors the basics of the space. When collectors start collecting, they probably won’t stop. You just need them to start!
NFTs Without Cryptocurrency?
As mentioned above, initiatives to slash the barrier to entry into NFTs are very important to mass adoption. Right now, to an average person, the amount of steps involved in the process is almost head-spinning. Keep in mind, most people do not understand the basics of the blockchain yet.
Even celebrities are turning their nose up at the traditional NFT buying process and turning to concierge services to get their NFTs.
Kevin Hart (@KevinHart4real) just bought the Bored Ape #9258 of the @BoredApeYC collection for 79,5 ETH (~$195.000). He did it through the @moonpay concierge service.#nft #nfts #kevinhart #BoredApeYC #moonpay pic.twitter.com/nj29IzWYpX
— NFTs Holders Club (@nftsholdersclub) January 24, 2022
What these initiatives are doing, including Neon’s NFT ATMs, is completely separating the concept of crypto from NFTs. Users can stick with a form of currency they trust and understand, while still being able to buy what they want. To crypto-native users, it’s a little weird to see that some people are fine with the concept of NFTs, but not cryptocurrency. When we strip to down to the very basics, they’re pretty much the same thing;
Digital assets stored on a blockchain, or network of computers.
As it becomes easier and easier to buy these items, the lines are probably going to start to blur. People don’t want to understand, they want to participate. If they trust their fiat more than some cryptocurrencies, that’s more than fine. Anything that increases adoption in the space is net positive in the long term. Who cares if the average person understands the bones of how this system works. They already don’t understand how most fiat systems work, yet they still participate and fully trust.
If you take anything away from this, let it be that humans are weird creatures when it comes to money or things of ‘value’. For mass adoption to work, normal average people need to trust the system that handles their value. Neon’s ATM service, as well as Moonpay’s concierge service, are the first attempt at this.
NOTE: Remember always to do your research, make your own decisions, and invest in projects that interest you!
Follow our new Altcoin Buzz Public NFT Wallet to keep an eye on collections we’re buying, selling, and holding! Use this as a jumping-off point for your research.
Also, Join us on Telegram to receive free trading signals.
Finally, For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.