Press Release
PRICE RELEASE myNFT, a NFT marketplace platform with a London location, announced the launch of its new website. The company has been funded Series A by some of the best investors in the industry.
myNFT believes the NFT industry has many obstacles that prevent this technology being available to all. Their core mission is to change this in ways that no other platform has done before – lowering costs, and supporting multi-chain payment methods, including fiat and many more features.
It is built upon the Moonbeam Parachain that is part the Polkadot Network. Polkadot was founded by Ethereum co-founder Gavin Wood and is known as ‘the internet of blockchains’ as it connects blockchains together, allowing value and data to be sent across previously incompatible networks. Polkadot’s natively interoperable, multi-chain architecture will allow myNFT customers to trade, create and migrate NFTs to any blockchain, in any currency, at an affordable price.
A gamechanger for the NFT industry, myNFT are launching with a viable fiat onramp, where users can buy and sell NFTs with Pounds (£), Dollars ($) and other non-cryptocurrencies. This is in line with myNFT’s overall mission of making this revolutionary technology accessible to all.
The high fees for Ethereum’s network gas are currently a major obstacle to mainstream adoption. The market has been unable to buy Ethereum gas because of the skyrocketing prices. myNFT’s tech stack is proof of stake based – much more scalable and just as secure as Ethereum. Buyers and sellers will experience lower gas prices and quicker transaction speeds, which in turn means more value and liquidity when NFTs are created.
With their patent-pending bid to-earn GBM system, people can now auction off their NFTs through the myNFT platform. GBM auctions have only two possible outcomes. The bidder makes money if they lose the item or is outbid. This unique way of discovering the value in their NFTs makes auctions more interesting for everyone.
The experience and knowledge of myNFT’s co-founders was a key factor in the creation process. Hugo McDonaugh and Edouard Belsire are university buddies who have worked in NFT since its infancy. In 2020, the Cryptograph platform was launched by Hugo McDonaugh, Edouard Bessire, and Guillaume Gonnaud. This allowed celebrities and artists from Hollywood to start their own NFTs, and then donate a percentage to charity of their choosing. The co-founders faced many industry issues during this period, including severe gas price inflation and clunky user experience, poor cryptocurrency exchanges and other problems. This experience has been used by the team in creating myNFT.
Their Series A round of funding, which raised over $7M, was a success and opens the door to a better NFT market. Hugo McDonaugh is the co-founder of myNFT and its CEO.
Securing Series A funding is such a vital step for a fast-developing start-up like ours, and we’re delighted to receive the support from some of the smartest people in web3, and beyond. This allows us to concentrate on myNFT’s growth and to provide transformative features for the NFT market to fulfill our core mission of making NFTs available to everyone. Blockchain technology and NFTs are helping us to see the dawning of a new Internet. One that values ownership, value and is free. myNFT has this confidence vote and will make sure that everyone can access this amazing technology.
Scytale Ventures led the Series A, which was a prominent investor in blockchain technology. Signum Growth Investments is another investor along with SevenX Ventures (Founder of RMRK), Future Perfect Ventures and Signum Growth Investments. A grant was also awarded to the Moonbeam Foundation, which is funding their efforts in developing important NFT infrastructures for Web3.
MyNFT will launch its first version of their software in June 2022.
After launch, the next step in their roadmap is to unveil their next-generation NFT minting infrastructure and some other exciting developments for NFT.
Register at www.mynft.com now to register and be the first to access the myNFT Marketplace when it launches. You also have the chance to enter the Launch Competition for your chance to win amazing NFT prizes.
Contact Lydia Drukarz (447977 454180), Sina Sadrzadeh Head of Growth (447505 827569), Wavelength PR. Or email: [email protected]Oder [email protected]
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