MyEG Services Bhd has entered the virtual trading playing field with the launch of their own non-fungible token trading platform, NFT Pangolin. The global marketplace will soon support regional creators with the issuance and trading of NFTs on the upcoming Zetrix Layer 1 blockchain network, serving as a parallel chain to the International Backbone and Supernodes of Xinghuo, China’s national blockchain infrastructure.
In a statement, MyEG went into how the new platform will benefit regional creatives as a stepping stone into the global market through unique value propositions and innovative solutions.
“NFT Pangolin currently supports Ethereum but will also introduce Zetrix-based NFTs, providing for lower gas fees and carbon footprints which not only decreases financial barriers to entry for participants but is also eco-friendly and in line with the industry’s move towards sustainable ESG practices.”
“Furthermore, issuers of NFTs on NFT Pangolin will be able to market these NFTs in China as digital collectibles, where there are strict regulations on trading of NFTs but collectors may buy them as long-term collectibles.”
A digital asset representing real-world items, NFTs have grown exponentially in popularity over the last year, with business and celebrities alike wanting a piece of the virtual cryptographic token.
Moving forward, NFT Pangolin will be looking at expanding in the coming months with the announcement of key partnerships to transform the platform to an ASEAN-wide home for talent.