MoonPay Launches a Web3 Tool Platform

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MoonPay has announced the launch of Web3 Tools, a platform aimed at simplifying the Web3 experience for consumers and helping brands provide seamless blockchain payments infrastructure.

According to the company, the platform includes a wide range of features such as authentication, identity verification, token-gating, ticketing, and insights, which will enable brands to foster customer loyalty, build communities, and unlock new revenue streams.

Notably, established brands like Adidas, Gucci, Puma, and Mastercard have already been supported by Web3 Tools in their Web3 initiatives.

For instance, Puma utilized the platform to create digital versions of their latest collections, allowing customers to purchase virtual sneakers that could be redeemed for physical pairs.

The development of Web3 Tools was made possible through MoonPay’s acquisition of ethpass for NFT solutions, as well as the previously undisclosed acquisitions of Plex Labs and Nifty’s.