London sees Europe’s ‘first’ NFT vending machine

London-based NFT marketplace myNFT has set up a physical vending machine selling digital collectibles in a street in the British capital. 

Believed to be the first of its kind in Europe, the purple-colored machine stood outside the Queen Elizabeth II Centre in Westminster between November 3 and 4 to coincide with the NFT.London event. 

It allows customers to buy NFTs without a digital wallet and accepts contact payment such as Apple Pay. After users put in a £10 fee, they will receive an envelope that contains a unique code for redeeming their chosen NFT.

myNFT co-founder Hugo McDonaugh told Bloomberg news agency that the idea was to help make NFTs more accessible and eliminate barriers to entry. The NFT market has much potential but many possible investors are put off by various unnecessary and complicated barriers, McDonaugh was quoted as saying.

“We’re determined to turn NFT investment into an everyday activity, and break it out of its current clique, ” he added.

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

According to myNFT’s press kit, the company was launched this year with an aim to allow individuals and businesses to create and trade NFTs on any blockchain, in any currency and at a low cost.