NFT vending machine set to launch in London

A new physical non-fungible token (NFT) vending machine is preparing to be unveiled in London in an attempt to make digital assets more accessible for a wider consumer.

The concept was developed by multichain NFT marketplace MyNFT, which is looking to allow customers to create, trade and migrate the asset across any blockchain at a low cost.

The vending machine, which will be revealed during the NFT.London conference, enables users to purchase an NFT quickly, without the need for a digital wallet.

Through the machine, customers can choose an item from the marketplace’s inaugural collection of donated NFTs and purchase it for 10 pounds.

The concept will be located just outside of the Queen Elizabeth II Centre in London’s Westminster, where anyone passing can use the machine to purchase up to five NFTs.

Proceeds from the machine will be donated to Giveth, an initiative that aids public services and education in developing countries, and Roald Dahl’s Marvellous Children’s Charity, which provides specialist nurses to ill children.

In a release, Hugh McDonaugh, co-founder of MyNFT, said: “There is so much potential in the NFT market and it’s such a shame to see some of that go to waste when possible new entrants are put off getting involved by various unnecessary and complicated barriers.

“From gas fees, gatekeeping knowledge, to having to set up a complicated digital wallet and more, great opportunities are being denied and squandered to newcomers.

“We’re determined to turn NFTs into an everyday activity for everyone, and break it out of its current clique. The best way for the sector to grow is through popular involvement, and we’re only going to achieve that by breaking down barriers.”