WeTransfer Makes First Foray into Web3 in Partnership with Minima, Plans to Launch NFT Minting Service
In Brief
File-sharing service, WeTransfer, is entering the NFT space with the launch of an NFT minting service.
It will allow users to generate NFTs from any smart device and transfer them through Minima’s peer-to-peer network.
WeTransfer, one of the world’s largest file-sharing companies, has joined forces with blockchain network Minima to launch an NFT minting service next month as its first foray into the world of NFTs.
With the new NFT minting service, creators can generate NFTs from any smart device and collect royalty payments through the sale and resale of digital assets, according to the company’s press release. The NFTs will be deployed on Minima’s blockchain protocol, which places a strong emphasis on data privacy and self-sovereignty. The protocol is set to go live next month and will be available to users from 180 countries.
Minima says on its website that its network enables people to exchange information securely without third-party intermediaries. Each user of Minima’s mobile app contributes to the network as an equal participant, as every user on Minima is a constructing and validating node.
According to its whitepaper, Minima has ambitions to be a truly decentralized cryptocurrency network. It addresses the problem of centralization in current miner-centric networks and aims to ensure that every single user is an equal and complete member of the network.
The network intends to achieve this by eschewing the miner-centric fee-paying model and making the protocol resource-efficient enough so that every user can run a complete node. The protocol also aims to have immutability, scale from inception, be quantum secure, and be both small and powerful.
Founded in Switzerland in 2018, Minima raised $6.5 million in a Series A funding round from several notable investors, including GSR, SMO Capital, and Vinny Lingham, in October 2021. Minima is partnering with international companies to develop solutions for digital identity management, tokenization, messaging, and payments in the automotive, media, and IoT industries. The partnership between WeTransfer and Minima was forged as both companies share a vision of facilitating innovation and creativity while protecting privacy.
Hugo Feiler, the CEO of Minima, said in a press release that the partnership will “will explore the practical use of NFT technology, something that interests not only the crypto industry but will be a test case to demonstrate the potential of wider adoption of this innovative digital tool.”
WeTransfer joins other web2 giants in jumping into the NFT space. Amazon is launching an NFT initiative in the spring, according to sources familiar with the matter. In June 2022, eBay acquired NFT marketplace KnownOrigin and recently posted a number of LinkedIn job ads seeking to expand the company’s web3 team.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
More articles
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
