Unfortunately, Momint, founded in 2021, has shut down that show after gaining considerable momentum in the NFT and tokenized asset arena. The South African platform was the first to enable local currency NFT transactions. It partnered with 1Voucher to bridge the digital to real-world utility.
Momint provides a wallets service where users can convert USDC and ETH into vouchers. These vouchers are accepted at over 10,000 retail partners, from local grocery stores to national and international services. This new cutting-edge approach helped to complete over 400K transactions and record over 53,000 users as of mid-2024. The platform facilitated close to $2MM in restaurant marketplace volume during that time.
As part of the expansion, the company accepted a $50,000 grant from the DFINITY Internet Computer Protocol (ICP) Hub. The grant supported the integration of blockchain technologies, allowing businesses to track real-world assets more effectively. This funding highlighted the consistent commitment from Momint to use the powerful tool of blockchain technology for real-world applications.
In early 2023, Momint released SunCash in collaboration with Sun Exchange as a complementary product. SunCash gave consumers a way to crowdfund solar energy projects through the purchase of fractionalized solar cells. These cells energized schools and community centers across South Africa, providing investors a 12% annual return in USDC. This campaign was a powerful representation of Momint’s commitment to blending financial innovation with social good.
Despite such successes, Momint’s path has closed. The company's closure marks the end of a pioneering effort in South Africa's blockchain and cryptocurrency landscape.
