NFT Vending in NYC

Anna Otieno, Head of Research, Strategy & Insights

Carli Gernot, Content Development Specialist

What’s Up

Neon— the digital collecting platform on Solana blockchain— has debuted an NFT vending machine. Open 24-hours a day, the vending machine accepts U.S. credit and debit cards in exchange for a unique code in a box which is linked to the purchased NFT. Buyers then use the code to access their purchase on Neon’s platform.

Our goal is to support artists and creators by letting them sell digital art to everyone, and to help anyone who wants to become a collector” Jordan Birnholtz, CMO and Co-Founder of Neon - Business Wire, 02.23.22

The vending machine can be found in New York City’s Financial District on 29 John Street and is located in the entryway of a gallery showing facsimiles of Neon NFTs. Solana blockchain was selected because it’s the most energy-efficient platform. Using the least energy per transaction, Solana makes Neon’s transactions carbon neutral.

What It Means

So, what even IS an NFT? We aren’t totally sure, but more of us are interested. Social media is abuzz with searches, questions and jokes about who really owns art? According to The Harris Poll, 40% of US adults say they are familiar with NFTs while 81% say they are aware of them. Neon’s vending machine separates NFT purchasing from the blockchain and crypto currency. By allowing people to buy non-fungible tokens with a credit or debit card, it demystifies the process and boosts accessibility.

This vending machine also sets up NFTs as a potential next-gen replacement for souvenirs, gifts, and mementos. Who knows, maybe these digital tokens can be the next postcard, fridge magnet, or keychain. The Harris Poll shows that 38% of those familiar with NFTs said they would prefer an NFT over physical memorabilia to commemorate their time at a sporting or entertainment event.

Marketers and brands alike can find novel consumer interest by marrying playful, physical retail formats with entirely virtual experiences. Vending presents convenient, high-visibility options for businesses and marketers.

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