MoonPay adds a new minting-as-a-service tool to its core business of crypto payment infrastructure, dubbing it “AWS for NFTs.”
MoonPay, the FinTech company that allows users to buy and sell crypto using traditional payment methods such as bank transfers or credit cards, has added a new platform to its core business of crypto payments infrastructure. They are calling the platform HyperMint, dubbing this new minting-as-a-service tool the “Amazon Web Services for NFT.”
HyperMint was founded in 2020. Three senior MoonPay staff—Semyon Germanovich, Frederick Becker, and Adrian Pang—run it. MoonPay developed it in-house as a singular product deviating from the crypto payments infrastructure that is part of the company’s core offerings.
The company has begun hiring engineers for HyperMint. The job description for a Solana founding engineer said HyperMint is a “Web3 infra company that makes it easy for enterprises, brands, and creators to create and deploy tokens. We’ve built a robust and flexible platform that allows token (NFT) creation, management, and distribution at scale. Think AWS for NFTs.”
MoonPay is seemingly offering a salary ranging from $80,000 to $180,000 for the Solana founding engineer role.
To those not familiar with Amazon Web Services or AWS, it provides critical tools to bolster the modern Internet and is responsible for a sizeable portion of Amazon’s income.
Two other job posts from MoonPay call for an Ethereum engineer and an “an AWS and DevOps expert” to build a strong founding engineering team. As explicitly stated on the ads, the three positions are owner roles and not employee roles. It means those hired for the positions will be offered “substantial equity upside” and provide a “key contribution to the direction of the business.”
MoonPay’s focus on Ethereum and Solana, as evidenced by the positions they are hiring for, is their take on the operations used by OpenSea. As is widely known, OpenSea is currently the largest NFT marketplace. Likewise, Solana is gaining traction in the NFT world due to its lower transaction fees.
Will MoonPay’s Core Proposition Change?
With MoonPay playing the “minting-as-a-service” card in the market, they are trying to step into a place that Cargo, Manifold, and Moralis currently occupy. The three companies offer batch handling of NFTs. According to analysts at The Block Research, present tools on the market are still relatively fundamental propositions.
Will HyperMint change MoonPay’s core proposition? Such remains to be seen. As mentioned earlier, the platform is the latest deviation from the company’s core offerings. MoonPay is still flaunting its NFT concierge service for celebrities, having brokered several A-listers’ acquisition of high-value NFTs like Bored Ape Yacht Club and World of Women.
The celebrities MoonPay helped include Wiz Khalifa, Madonna, Jimmy Fallon, and others. Other A-list MoonPay investors that have backed, purchased, or launched Web3 and NFT projects include Gwyneth Paltrow, Paris Hilton, Snoop Dogg, Gal Gadot, Steve Aoki, Eva Longoria, The Weeknd, and Justin Bieber.
Ivan Soto-Wright, MoonPay’s CEO, said this undertaking was more of a play for “education” in the NFT space. Hence, they are giving the brand a solid marketing and PR push.
MoonPay has also recently partnered with OpenSea, rolling out direct card payments to make acquiring NFTs for those who don’t own cryptocurrencies simpler. The move was a technical solution to onboard non-crypto people into the crypto world. The company launched this plug-and-play service in January.
Get more news updates
Get more NFT news updates at Omnimint News. For more information on Omnimint, and details on how to join our community, please follow our Twitter, or subscribe to our Telegram channel for more updates, and please feel free to submit your article.