Crossmint Acquires Winter NFT and Launches Revolutionary Cross-Chain Payments Product

Crossmint, an enterprise blockchain platform, has made waves with its acquisition of Winter, a Y Combinator-backed startup specializing in NFT payments. This strategic move marks a significant expansion of Crossmint's blockchain coverage and features, setting a new standard in the industry. While the financial details of the acquisition remain undisclosed, Rodri Fernandez, co-founder of Crossmint, revealed that the transaction was financed with cash. Talks between Crossmint and Winter commenced earlier this month and concluded with the deal being sealed last week.

In just two years, Crossmint has solidified its position as the leading enterprise Web3 platform, serving over 30,000 companies and developers worldwide. Notable clients include Fortune 500 giants like Mastercard, Etihad Airways, Johnny Walker, and AC Milan. Crossmint's innovative approach allows companies to seamlessly integrate digital assets into their business operations, eliminating the need for blockchain expertise or cryptocurrency holdings.

Winter, founded in 2021, catered to companies seeking NFT payment solutions, counting Fox Corporation, the National Football League, and Mythical Games among its clients. Although Winter employed six individuals, none will be joining Crossmint post-acquisition, including Winter's founder and CEO, Michael Luo.

Crossmint's latest product offering, the cross-chain payments product, simplifies the process of purchasing NFTs across different blockchain networks. Users can now buy NFTs from any chain using any cryptocurrency in a single transaction, eliminating the need for costly and time-consuming cryptocurrency bridging.

Blockchain fragmentation has long been a challenge in the Web3 ecosystem, hindering mainstream adoption. With the introduction of Crossmint's cross-chain payments product, users can now purchase NFTs from any blockchain network using any cryptocurrency in a single transaction. This groundbreaking solution eliminates the need for cumbersome bridging processes, significantly reducing transaction times from 15-30 minutes to mere seconds and lowering costs.

Rodri Fernandez, co-founder of Crossmint, emphasized the transformative impact of the new cross-chain payments feature on user experience. Early adopters have reported remarkable increases in conversion rates, with some achieving over 3x improvements. Notable figures in the NFT space, like Jack Butcher and Salvino Armati, have already leveraged Crossmint's technology, selling around 75% of their NFTs through the platform.

The cross-chain payments feature will be integrate with Crossmint's existing fiat NFT checkout, offering a comprehensive solution to cater to all customers' needs. Crossmint's checkout system, trusted by leading marketplaces like Tensor and Magic Eden, has facilitated billions of dollars in transaction volume and powered major NFT drops and launchpads, including On Chain Summer by Base.

With the acquisition of Winter and the launch of its groundbreaking cross-chain payments product, Crossmint reaffirms its commitment to driving innovation and propelling the blockchain industry towards broader adoption and accessibility.