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In New York, the first “NFT ATM” to buy digital art is as easy as buying candy, Technology News

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Digital art collection platform Neon has created the world’s first non-fungible token vending machine in New York City, with the goal of making online art as accessible as soda or candy bars.

But there is a twist. When you buy this digital art, you don’t know what you are going to get.

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Located in a small storefront in Lower Manhattan’s Financial District with a sign outside that reads “NFT ATM,” the machine looks like a traditional ATM but offers QR codes on slips placed in small paper boxes. Prices range between $5.99 and $420.69.

After scanning the QR code, the new artwork can be viewed on any smartphone, laptop or tablet.

“These are the crypto curious, the people who have tried to buy cryptocurrency or were interested in buying an NFT, but just encountered too many obstacles,” the CEO said. of Neon, Kyle Zappitell, in an interview with Reuters, about the vending machine’s target customer.

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The Lower Manhattan site’s QR codes lead to two categories of digital artwork. Either an image of a pigeon or a color.

Zappitell sees the element of mystery as a natural extension of the digital art space.

“As an NFT collector, over time one of the things you love is the randomness of ‘Which one are you going to get? “”, Did he declare. “So that’s one of the exciting things.”

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In the vending machine, artworks are sold using the Solana blockchain, which guarantees carbon-neutral transactions.

While digital art is primarily sold via cryptocurrency, the Neon vending machine accepts fiat currency – you can pay with a credit card.

Starting with $3 million in start-up capital, Neon plans to install vending machines in malls and other public places.

“That’s one of the really powerful messages from this is how it’s using this old-world technology to enable the adoption of new global technology,” Zappitell said.

(With agency contributions)

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