PRESS RELEASE. Newly launched NFT marketplace platform myNFT, based in London, has been announced with the announcement that it has received Series-A funding from some of most prominent investors within the blockchain industry.

myNFT believes the NFT industry is a maze of barriers that prevent this new technology from becoming accessible to all. Their mission is to make this technology more accessible and lower costs.

The platform is built on the Moonbeam Parachain, which is part of the Polkadot Network. Gavin Wood, the co-founder of Ethereum, founded Polkadot. It is also known as “the internet of Blockchains” because it connects different blockchains and allows data and value to be transferred across previously incompatible networks. MyNFT customers will soon be able create, trade, and migrate NFTs between any number of blockchains in any currency, thanks to Polkadot’s multi-chain architecture.

A gamechanger for the NFT industry, myNFT are launching with a viable fiat onramp, where users can buy and sell NFTs with Pounds (PS), Dollars ($) and other non-cryptocurrencies. This aligns with myNFT’s overall mission to make this revolutionary technology available to everyone.

The high fees for Ethereum network gas are a major obstacle to widespread adoption of NFT technology. The market has been unable to buy Ethereum gas because of the skyrocketing prices. myNFT’s tech stack, which is proof-of-stake based, is much more scalable than Ethereum and just as secure. This will result in buyers and sellers having lower gas costs, faster transaction speeds, and greater liquidity for NFTs.

People can auction their NFTs on the myNFT platform using their new, patent-pending bid-to-earn GBM auction system. There are two possible outcomes in a GBM auction. The bidder makes money if they are outbid, or the item is won. This is a novel way for people discover the value their NFTs. It makes auctions much more enjoyable for all involved.

The experience of myNFT’s co-founders was a key factor in the creation of the platform. Hugo McDonaugh and Edouard Bessire are university friends who have been involved in NFT since the beginning of the industry. Previously, they successfully launched the Cryptograph platform in 2020, which enabled Hollywood celebrities and artists to create their own NFTs and give a portion of the proceeds to a charity of their choice. The co-founders faced many problems during this period, including severe gas price inflation and clunky user experience, poor cryptocurrency exchanges, and other issues. These experiences were used by the team to build myNFT, a better platform.

The successful completion of their Series-A funding round with more than $7M raised paves the path for a more accessible NFT market. Hugo McDonaugh (co-founder and CEO, myNFT) states that

is a good example.

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 growth and delivering transformative features for the NFT industry, which will allow us to fulfill our core mission of making NFTs available to everyone. We are witnessing the birth of a new internet thanks to blockchain technology and NFTs. An internet that is based on ownership, value, and freedom. myNFT is confident that this vote will allow everyone to have access to this revolutionary technology.

The Series A was managed by Scytale Ventures. This is a prominent investor in the blockchain sector. Signum Growth Investments and Future Perfect Ventures are other investors. For their important work in NFT infrastructure, the team received a grant from Moonbeam Foundation.

myNFT is due to launch their first version in June 2022.

The next stage of their roadmap is to launch their next generation NFT mining infrastructure along with some exciting new developments for the NFT industry.

You can already register at www.mynft.com to be one of the first to use the myNFT marketplace when it launches and also enter the launch competition for a chance to win some fantastic NFT prizes.

To find out more about myNFT or to speak to CEO, Hugo McDonaugh or Head of Growth, Sina Sadrzadeh, please contact either Lydia Drukarz (+447977 454180) or Will Jones (+447505 827569) at Wavelength PR or email: lydia@wavelengthpr.com or willwavelengthpr@gmail.com

This is a press release. Before taking any action related to the promoted company, or any of its affiliates, or services, readers should do their due diligence. Bitcoin.com does not assume any responsibility for any loss or damage caused by the content, goods, or services mentioned in this press release.

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