When asked about future collaborations with Universal Parks & Resorts, MoonPay’s CEO Ivan Soto-Wright recalled his childhood experiences visiting theme parks, particularly attending their longstanding “Halloween Horror Nights” event. Reflecting on his childhood visits to amusement parks, Ivan Soto-Wright couldn’t help but remember.
“It all seems to have come full circle,” Soto-Wright said in an exclusive video interview. “Back then, I never really accompanied my father.”
As a company providing Bitcoin payment services, MoonPay has consolidated its position in the NFT industry by partnering with several collaborators to simplify Web3 transactions. Their mission is to streamline Web3 transactions, with partners including cryptocurrency exchange CoinGate and leading non-native currency marketplace OpenSea.
However, why would MoonPay want to connect with an event aimed solely at scaring theme park visitors? Is the cryptocurrency field in an aggressive action? In contrast, a partnership with Universal Parks & Resorts could become the largest real-world Web3 onboarding event in industry history. However, visitors will be unaware of this throughout their stay.
“The number of park visitors is impressive. Hundreds of millions of people visit these Universal theme parks each year, so MoonPay aims to bring the world to the Web3 platform,” he said. “Our goal is to bring billions of people into the ecosystem, so we think this is a great pilot project.”
Relationship between Universal and MoonPay
Many are committed to attracting new members to the Web3 community. For example, one person recently partnered with a well-known pop culture figure and made a splash at this year’s Grammy Awards. To attract customers to use Web3, they must adapt to the way they now use the internet. When this happens, MoonPay negotiates with Universal Parks & Resorts. It all started with a treasure hunt game.
On September 15, MoonPay buried QR codes at various locations at Universal Studios Hollywood and Universal Orlando Resort. These locations include park facilities. Park visitors can scan these QR codes with their mobile devices to receive exclusive non-fungible token (NFT) collectibles featuring “Halloween Horror Nights” themed character artwork. If visitors can find all the hidden QR codes in the park, they will be eligible to receive a special gold medal NFT.
MoonPay expects that during the 1.5-month duration of the event, millions of people will take their first steps into Web3 through this activity, whether they are aware of it or not. Soto-Wright said, “This could be the largest attendance-based NFT drop in history.” “Protocol NFT drop” refers to attendance NFT certificates, which will provide attendance NFT during the event. The functionality of attendance NFT is similar to POAP, but not exactly. MoonPay hopes to sell a product similar to POAP. However, the company has not yet issued POAP and has not used it. Soto-Wright predicts that as many as 7 million NFTs could be created on the HyperMint platform.
HyperMint technology is crucial for the success of this initiative because it allows for the rapid minting of potentially millions of NFTs.
Soto-Wright agrees that most companies will benefit from using NFTs. Furthermore, many other companies share a similar view. For example, Netflix uses NFTs to gauge audience reactions to the latest season of “Love, Death & Robots.” “The person running around the park scanning all the QR codes” might attract visitors to Universal. You might be curious about that person’s identity because it’s obvious they’re having a good time. So now you have a new touchpoint to communicate with that person, even if you didn’t have that information before, right? You now have an additional data point. “It’s a new tool available to them that makes discovering your brand’s most passionate followers—those who are enthusiastic about your product—even more exciting,” he adds. It’s a win-win situation.
Tomorrow, NFTs are coming.
Seamless minting experiences are crucial for this process, and both HyperMint and MoonPay have achieved this through intuitive user interfaces. According to Soto-Wright, even older people can effectively scan QR codes. This doesn’t depend on your identity.
Soto-Wright believes that not only novice users should emphasize the availability of Web3 technology. He believes ensuring the availability of Web3 technology and platforms is crucial for the industry’s future expansion. This is correct for both newcomers and experienced Web3 veterans.
When asked about the connection between MoonPay’s latest projects and the company’s mission, Soto-Wright said, “Everything I do is about accessibility.” Rather than viewing cryptocurrencies solely as a financial asset category, our organization focuses on practical applications of blockchain technology. How do you plan to use this data? How do you integrate it into your daily life?
Soto-Wright’s concept doesn’t just stop at simplifying cryptocurrency processes. You don’t need to visit cryptocurrency exchanges, buy fair coins, and transfer them to your wallet. Therefore, MoonPay has designed user-friendly on-ramps and off-ramps for buying and selling in popular cryptocurrency wallets. These gateways can be used to purchase with MoonPay. As he explained, he could quickly and easily complete the process. Likewise, he also envisioned a similar future for those who are not financial institutions.
“If consumers want to buy NFTs, they purchase Ether from an exchange and deposit it into their wallets and then find they lack sufficient gas to interact with smart contracts and buy NFTs, it may be unwise for clients to purchase NFTs,” he said. “If a customer wants to purchase NFTs, it may not be wise to purchase Ether from an exchange.” he said. The new NFT checkout feature on OpenSea is built to solve a pain point found when purchasing NFTs, allowing users to purchase NFTs with fiat currency. Soto-Wright described this new feature as “a smooth operation.”
Cryptocurrency winter
Soto-Wright also discussed potential future options for NFT development. Community leaders hope to make non-fungible tokens (NFTs) as easy to use as possible and promote widespread adoption. What other possibilities might exist? Soto-Wright believes providing customers with a unique and enjoyable experience is essential for the continued growth of the NFT industry.
Soto-Wright believes the treasure hunt game at Universal Studios offers a glimpse into future prospects. “At this point, is our imagination the only thing that binds us?” It seems to be the case across the entire NFT industry. Indeed, that is accurate. “Now, the bear market is fully underway, and creativity appears to be the new currency in this field. Recent events have already demonstrated the effectiveness of this possibility. These developments include NFT-driven step mining programs, large-scale NFT giveaways of unique programs, and the birth of goblins for some reason.
In addition, Soto-Wright is confident in MoonPay’s role in the future development of Web3.
He believes the existing arrangements with Universal Parks & Resorts are just the beginning of market expansion. We will continue to break boundaries. We will continue to experiment with brands, and I believe we will show the world what we are capable of, not just tell them. “he continued.”We will continue to conduct brand tests. Long-term perspective or mindset is critical when assessing what will happen. The degree of change is sufficient to be considered revolutionary. Anyone who has ever used the internet can participate. It effectively reverses the situation in multiple industries where only a few people can compete.