NMKR is an NFT and Tokenization service that leverages the Cardano blockchain. It enables artists, creators, and businesses to tokenize assets in the form of NFTs through a simple, no-coding-required platform.
EMURGO partnered with NMKR to raise commercial awareness and adoption of tokenization services, as it provides new ways for businesses and individuals to harness the power of blockchain technology and digitize their assets for an interested global audience. These tokenized assets can then be stored or transacted as desired using a self-custodial Cardano wallet.
NMKR Pay is a fiat on-ramp to Cardano projects utilizing the NMKR platform for tokenization. It allows NFT creators to easily integrate a payment gateway for their tokenized asset on Cardano.
Buyers looking to purchase these NFTs are not required to have Cardano’s native cryptocurrency ADA in their crypto wallet to make the purchase.
In most cases, new users won’t even have the cryptocurrency of a network readily available in a crypto wallet. Normally, they would need to go to a centralized exchange (CEX), log in or sign up, purchase the required cryptocurrency, send it to a wallet that uses the network, and finally make the purchase.
Related reading:
- What is NMKR?
- How NFTs can deliver value to the premium spirits industry
- What is asset tokenization and why is it important?
This long chain of actions poses an entry barrier and dissuades new users from joining a particular blockchain network. All these hurdles create friction points for NFT projects and blockchain-based product platforms.
NMKR Pay aims to remove these barriers with one single tool.
Source: NMKR.io
It provides an easy-to-integrate API that takes traditional payment methods such as debit and credit cards, and converts them into blockchain payments without requiring the buyer to possess or purchase ADA first.
Users simply have to input their card info in the tool and then NMKR Pay processes the rest. This way, new Cardano users can purchase NFTs directly on its platform without having to buy ADA from an external source.
Recently, NMKR announced that their NMKR Pay was now available in Japanese:
https://twitter.com/nmkr_io/status/1780350629153485065
This move creates an easier way for Japanese NFT projects to reach their audience in their native language and for buyers to purchase these digital assets using existing methods of payment, thereby reducing friction.
Blockchain technology is global, but obstacles still exist such as multi-language support. Most blockchain products & services are still mainly provided only in English and a few major supporting languages.
This creates a barrier for many new potential users to adopt blockchain products & services and prevents the overall sustained growth of blockchain.
Japan’s government has also recently made strides to actively support the expansion of its domestic Web3 industry with new frameworks surrounding DAOs, investments, stablecoins, hiring, and more on the agenda.
Are you an EMURGO and NMKR follower?
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Then, follow EMURGO on X to receive updates about the partnership and future initiatives with NMKR to drive Cardano NFT usage for asset tokenization.
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Disclaimer
You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by EMURGO to invest.
