MyEG has announced the launch of NFT Pangolin, an NFT trading platform available worldwide. The platform will eventually operate on the soon-to-be-launched Zetrix Layer 1 blockchain network which serves as a parallel chain to Xinghuo, China’s national blockchain infrastructure.
NFT Pangolin supports Ethereum but also plans to introduce Zetrix-based NFTs, which it claims will provide lower gas fees and a smaller carbon footprint. Speaking of which, part of gas fees paid by issuers will go to the popular OpenSea platform as MyEG’s marketplace is linked to OpenSea.
Because of the link, all listings on the site will simultaneously appear on OpenSea as a listing in NFT Pangolin’s collection. MyEG says that users will be able to offer their NFTs in China, despite the strict regulations there. The company also mentions that Zetrix Layer 1 will eventually support cross-chain trading.
According to its FAQ, the platform supports lazy minting, a process where a published work will only be minted once it’s sold, saving users’ time and money as there’s no guarantee that a piece will be sold once minted. It also supports royalties through smart contracts on the Ethereum blockchain. Currently, the only crypto wallet supported by NFT Pangolin is MetaMask.