Moonpay CEO: 'We Really Want to Pass the Mom Test' for Mass NFT Adoption

MoonPay CEO Ivan Soto-Wright is turning to a unique metric to measure mass adoption for NFTs.

“We really want to pass the mom test,” he said in a recent interview with Decrypt at this year's NFT Paris. "We want to make it really easy, for anyone, anywhere in the world, to be able to use their debit and credit card, payment methods, we want to localize that experience to make it easy for them to purchase their first crypto or their first NFT.”

The ultimate goal is the company’s mantra of “onboarding the world to Web3.”

“Crypto needs to be used in everyday life, NFTs need to be used in everyday life,” he said. “And that means moving away from just terminology and into new digital experiences that we can create.”

MoonPay taps Nike, Puma

Brand names are pouring into the space, and MoonPay is hoping to assist with the new influx of interest.

Along with a robust payment infrastructure business, the team has also rolled out HyperMint, a service that works with brands to help them manage their smart contracts and acts as a self-service platform where individuals can mint and manage their NFT business.

In December 2021, for example, Nike acquired RTFKT, an NFT and blockchain company to “extend Nike’s digital footprint and capabilities.”

More recently, it launched .SWOOSH, a web3 marketplace for digital apparel, partnering with MoonPay to manage its development. It's not just Nike, either; other early partners for Hypermint include Puma, Fox, and Universal.

Soto-Wright is optimistic that this is just the start of something much bigger.

“There are big brands that are investing real dollars to build out these new experiences, and we’re just at the beginning,” he said.