Crossmint Acquires NFT Payments Startup Winter
Crossmint, an enterprise blockchain platform, has acquired Winter, a Y Combinator-backed NFT payments infrastructure startup. The deal was financed with cash and the acquisition was completed last week.
As part of the acquisition, Crossmint has also launched a new cross-chain payments product.
The Crossmint-Winter Deal
Crossmint, founded in February 2022, has served over 30,000 companies to date, including major Fortune 500 brands such as Mastercard, Etihad Airways, Johnny Walker, and AC Milan. Last December, Crossmint helped AC Milan tokenize its stadium, allowing fans to acquire a plot of land at the stadium.
The companyโs product suite includes embedded wallets, tokenization, payments, token-gating, and identity tools. Currently, Crossmint has 55 employees.
Winter, on the other hand, is a smaller startup with six employees. None of the Winter team members will be joining Crossmint as part of the acquisition. Winter was founded in 2021 and provided an NFT payment infrastructure that allowed users to purchase NFTs with fiat or cross-chain payments. The startup claims to have served hundreds of companies including Fox Corporation, the National Football League, and Mythical Games.
New Crossmint Product
Crossmint has launched a new cross-chain payments product that allows users to purchase NFTs from any chain using any cryptocurrency in a single transaction. Traditionally, users would have to bridge their cryptocurrency and go through an expensive and time-consuming process to purchase NFTs on a different chain. With Crossmintโs checkout feature, users can now buy an NFT on a different chain in seconds at a fraction of the cost.
The Winter acquisition helped expand the capabilities of the new product. Crossmint leveraged some of Winterโs code to add more chains and additional functionality.
Hot Take: Crossmint Enhances NFT Payments with Winter Acquisition
Crossmint, an enterprise blockchain platform, has acquired Winter, an NFT payments infrastructure startup, in a cash deal. This acquisition has allowed Crossmint to launch a new cross-chain payments product that enables users to purchase NFTs from any chain using any cryptocurrency in a single transaction.
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