{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Let’s get ‘phygital’ — how NFTs are changing the retail game according to MoonPay’s CEO","html":"","width":"100%","height":180,"duration":2737,"description":"Web3 can be daunting for new users and brands looking to enter the space.\nBut MoonPay — the crypto payment infrastructure company that raised $555 million at a valuation of $3.4 billion just last year — has spent the last few months building out a suite of NFT related products in an attempt to simplify the process of introducing new users to Web3.\nSo far this year, MoonPay has enabled NFT purchases via credit cards, built out its white-glove NFT concierge service for celebrities, and launched an NFT minting service aimed at brands and content creators.\nIn this episode of The Scoop recorded live at the NFT.NYC conference, MoonPay co-founder and CEO Ivan Soto-Wright sits down with host Frank Chaparro to discuss the inroads MoonPay has made into the burgeoning NFT industry, and to explain some of the ways he envisions the space evolving over the coming months.\nOne potential use case for NFTs that Soto-Wright is excited about is their potential to act as redeemable tokens for real-world items. According to Soto-Wright:\n“‘Phygital’ — or ‘digital twinning’ — is the idea that you can take something that exists physically and create a digital pair of that as an NFT, and then you can hold on to that and redeem it for the physical…”\nIn addition to helping brands combat counterfeiting, Soto-Wright explains how brands could use ‘phygital’ items to pitch products directly to consumers:\n“Let's say Gucci has a special line of shoes that they want to sell on their website, and maybe the shoes haven't actually been released yet — they could release them digitally and they could actually start to engage with the audience and see whether there's actually demand for that asset before it actually is created.”\nBig brands are part of the audience MoonPay hopes to attract with its new HyperMint NFT utility service, announced at the start of NFT.NYC last week, which allows brands and creators to mint millions of NFTs at a time.\n\nEpisode 59 of Season 4 of The Scoop was recorded live at...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}