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.
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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.
(Sources: MyEG, NFT Pangolin FAQ)
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