MYEG launches NFT Pangolin

PETALING JAYA: My E.G. Services Bhd (MyEG) has entered into the non-fungible token (NFT) space with the launch of NFT Pangolin.

It said the global NFT marketplace supports the issuance and trading of NFTs and is set to operate on the soon-to-be-launched Zetrix Layer 1 blockchain network which serves as a parallel chain to the International Backbone and Supernodes of Xinghuo, China’s national blockchain infrastructure.

“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,” MyEG said.

Group managing director Wong Thean Soon said: “With Zetrix’s plans to enable a new wave of innovation and the increasing tokenisation of all forms of asset ownership, the introduction of Zetrix-based NFTs in our marketplace is an important step towards achieving that objective.”

“We believe that the application of NFTs will go far beyond digital art and we will be pioneering NFTs which are pegged to ownership of mainstream assets, for example, ownership of your vehicle registration number for a start,” he added.

With this launch, NFT Pangolin aims to be the platform of choice for Asean NFT creators and has set a bold target of reaching a global audience. The platform allows users to mint, sell and trade NFTs, MyEG said.