For years, WeTransfer has been helping customers move data and files across the internet with ease, becoming one of the best-known productivity tools in the world. Now, WeTransfer is on a mission to take on web3 through a new partnership with Minima.
Minima is a proof-of-work blockchain and on it, WeTransfer intends to launch its first NFT project. This project is geared towards creators, offering them Digital Rights Management for their intellectual property. Through this, those who use WeTransfer can have more control over the work that they create.
Details About the Development
This partnership was announced on February 7, 2023, and will be fully rolled out to users in over 180 countries from next month. Once this is done, users can automatically generate NFTs from any device they own.
One of the core tenets of Minima is data privacy and autonomy for users and this is at the heart of this project. Given that NFTs have proven to be a viable way for creatives to take control of their works and earn a living from them (sometimes in perpetuity thanks to royalties, this made both companies a good fit).
And as Hugo Feiler, the CEO of Minima explains, this allows Minima to support “the development and acceleration of creativity in the digital age where individuals retain ownership and control of their work,” adding that, “This partnership 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.”
NFTs are already used by many around the world but they are often seen as a niche tool and as something that requires a lot of technical know-how to leverage. But WeTransger and Minima are combating this by making these NFTs instantly mintable from any mobile device. On top of this, NFTs are being exposed to a very wide audience, given the millions of users WeTransfer has.
This partnership has the potential to expose NFTs to an existing audience of creators who might not be aware of its benefits or might not know how to get started with them. It is also a plus that Minima has branded itself as one of the more wholesome blockchain networks. Despite running on a proof-of-work consensus, which is notorious for its energy use, its whitepaper shows that it decentralizes power usage.
This means that there are no large pools of miners dominating the network and there are no rewards for mining. This makes the blockchain much more energy efficient than other proof-of-work chains like Bitcoin.
“Minima is a cryptocurrency designed to be ultra-compact. Designed to remain Totally Decentralized. Designed to have no rulers. There are no miners and no ever-growing database. […] All Quantum Secure Cryptography. Small enough to run efficiently on your mobile phone. Everyone runs a Complete node. Forever,” its whitepaper says.
Hopefully, this initiative will be well-embraced once it goes live and will lead to better outcomes for NFTs as a whole.