Press Release
Press Release myNFT, a new NFT marketplace platform based in London, has announced its upcoming launch with the news of receiving announced its upcoming launch with the news that it has received Series A funding.
myNFT believes that the current NFT industry is full of barriers that prevent this revolutionary technology from being accessible to everyone. Their core mission is to change this in a way no other platform has ever done. Lower costs and support multi-chain payment methods, including fiat and many other features.
The platform is built on the Moonbeam parachain, part of the Polkadot Network, which was founded by Ethereum co-founder Gavin Wood to connect blockchains to each other and to support the previously Thanks to Polkadot’s native interoperability and multi-chain architecture, myNFT’s customers will eventually be able to send low-cost funds between any blockchain, in any currency. NFTs will eventually be able to be created, traded, and migrated between any blockchain, in any currency, at a low cost.
myNFT, a game changer in the NFT industry, is launching a viable fiat on-ramp that will allow users to buy and sell NFTs in pounds (£), dollars ($), and other non-crypto currencies. This is in line with myNFT’s overall mission to make this revolutionary technology available to all.
One of the main bottlenecks currently preventing mainstream adoption of NFT technology is the high gas prices associated with the Ethereum network. The high cost of gas in Ethereum has kept many potential buyers out of the market. myNFT’s technology stack is proof-of-stake based and much more scalable and secure than Ethereum’s. As a result, buyers and sellers will pay much lower gas prices, trade faster, and increase the value and liquidity of the NFTs being created.
People can auction NFTs on the myNFT platform using a new patent-pending bid-to-earn auction system, the GBM Auction System, which allows bidders to bid on NFTs in a single auction, and then sell them to the highest bidder. In a GBM auction, bidders have only two outcomes: either they make money when they bid or they win the item at auction. This is a whole new way for people to discover the value of NFT and makes the auction more enjoyable for everyone involved.
The experience of the co-founders played a major role in creating the myNFT platform. College friends Hugo McDonaugh, Edouard Bessire, and Guillaume Gonnaud have been involved in the NFT industry since its earliest days. Previously, they successfully launched the cryptanalysis platform. The platform allowed Hollywood celebrities and artists to create their own NFTs and donate a portion of the proceeds to a charity of their choice. During this time, the co-founders encountered many issues affecting the industry, including severe gas price inflation, an inconvenient user experience, and poor cryptocurrency exchanges. The team is using these experiences to create a better platform in the form of myNFT.
A successful Series A funding round, raising over $7M, paves the way for creating a more accessible NFT industry. In this regard, Hugo McDonough, co-founder and CEO of myNFT, stated.
Securing Series A funding is a critical step for a fast-growing startup like ours, and we are delighted to have the backing of some of the smartest people in the field, Web3 and beyond. This will give us the freedom to focus on growing myNFT and delivering transformative features to the NFT industry, and to realize our core mission of making NFT accessible to all. Thanks to blockchain technology and the NFT, we are witnessing the beginning of the new Internet. With this vote of confidence, myNFT can ensure that no one is left out of access to this truly revolutionary technology.
The Series A was led by Scytale Ventures, a leading investor in the blockchain industry. Other investors include SevenX Ventures, Future Perfect Ventures, Signum Growth Investments, Bruno Skvorc (founder of RMRK), George McDonaugh (co-founder of KR1), and various family offices and angel investors to name a few. We have also received a grant from the Moonbeam Foundation for research on critical NFT infrastructure for Web3.
myNFT plans to launch its first version in June 2022.
The next phase of their roadmap after launch is to release the next generation NFT minting infrastructure, along with some exciting new developments the NFT industry has yet to see. {Already available for registration at
46} www.mynft.com Register at www.mynft.com to be among the first to take advantage of the myNFT Marketplace when it launches, and to participate in the launch competition for a chance to win great NFT prizes.
For more information about myNFT or to contact CEO Hugo McDonough or Growth Director Sheena Sadrzadeh, please contact Lydia Drukers at Wavelength PR at +447977 454180 or Will Jones at +447505 827569 or email Please contact. [email protected] or [email protected]
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