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The file-sharing service WeTransfer has partnered with the blockchain platform Minima to launch non-fungible tokens (NFTs) on the network.
Now Users Can WeTransfer NFTs
WeTransfer users will soon be able to generate NFTs directly from their phones using the file-sharing app. The company has teamed up with Layer-1 blockchain and peer-to-peer network, Minima to set up a digital platform for the minting, sharing, and selling digital assets like NFT. The platform, which is currently in its testnet phase, will be made available to 180 countries with the launch of Minima’s globally distributed communications network in March.
Addressing the collaboration, Damian Bradfield, Chief Creative Officer at WeTransfer, said,
“WeTransfer is thrilled to work with Minima, whose vision is aligned strongly with ours to seamlessly connect people and facilitate innovation and creativity without sacrificing privacy.”
Minima Values Data Privacy
The Minima coin is the native currency for the blockchain and allows users to conduct peer-to-peer transfers without involving a third party. The NFT minting service will enable Minima cooperative users to create their own assets and share them on the network. Speaking on the partnership, Minima CEO Hugo Feiler commented,
“We as a partnership look forward to supporting the development and acceleration of creativity in the digital age where individuals retain ownership and control of their work. This partnership will explore the practical use of NFT technology, something which interests not only the crypto industry, but will be a test case to demonstrate the potential of wider adoption of this innovative digital tool.”
Additionally, creators will also be able to collect royalty payments for every sale and resale of their NFTs. However, in order to use the service, users will need to run a Minima code.
Are NFTs Making A Comeback?
WeTransfer still has a chokehold on the file transfer and file-sharing market. According to recent data, over 70 million people use WeTransfer to send around 2 billion files every month. Introducing NFT functionalities to such an expansive user base would expose a significant number of people worldwide to Web3 technology.
NFTs and NFT platforms have been a method of choice for many companies looking to upgrade their offerings into the Web3 space. For example, the fantasy sports platform, Sorare, has recently signed a deal with Premier League to sell official digital sports cards of players from all 20 Premier League clubs. Despite the challenges of 2022, the NFT market is gradually clawing its way back into the mainstream once again, as is evident by the OpenSea NFT toolkit launched recently to help creators.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.