We know that NFTs are taking over the art world, but they have officially become more accessible than ever before. The world’s first NFT vending machine has been installed by Neon, a non-fungible token and digital collection platform.
On February 23, 2022, Neon, a Solana blockchain-based NFT marketplace and gallery, opened its own NFT vending machine at 29 John Street, just off Wall Street, in New York City’s Financial District.
The vending machine, which is the first of its kind in the world, makes it possible for almost anybody to enter the realm of NFTs—without a prior understanding or knowledge of blockchain or cryptocurrencies. It is essentially designed to make NFTs easier for everyone.
The vending machine is operational and available 24 hours a day, 7 days a week. Using their USD credit and debit cards, users can obtain a unique code in a box from the vending machine. On the Neon platform, the code can be redeemed for Solana NFTs.
The goal, according to Jordan Birnholtz, CMO and co-founder of Neon, is to allow artists to sell their work to anyone who wants to become a collector. In a Business Wire report, Birnholtz shared: “NFT buying and selling doesn’t need to be a mystery and you shouldn’t be required to hold Ethereum, write a smart contract, pay gas costs or bridge blockchains to participate.”
Birnholtz emphasized the argument for accepting credit and debit cards by pointing out that only 2% of Americans have digital wallets, whereas about 80% have either of the cards: “We make selling digital art even simpler than selling physical art. If creators want to make NFTs based on their existing content or based on new material, we want them on Neon,” he said.
Since 2021, a number of well-known celebrities, athletes, luxury fashion companies, and other businesses have joined the NFT bandwagon. Increased interest in the NFT market has led to the introduction of new experiences for collectors, such as the Lonely Ape Dating Club, an exclusive dating app for collectors, and property art auctions in the form of NFTs.
Over the span of a year, NFT artworks have sold for millions of dollars. The most expensive CryptoPunk sale ever occurred on February 13, 2022, when CryptoPunk #5822, a member of the famed CryptoPunk collection, was purchased for 8000 ETH, or around $23.7 million USD at the time.
Photo via Neon