NFT in Malaysia
Non-Fungible Tokens, also known as NFT, have made a name for themselves in Malaysia. It has garnered the attention that most individuals now are up-to-date on their latest NFT calendar. Even famous names, such as Elon Musk invested in NFT as well. In Malaysia, it’s not something foreign either.
Some notable NFT projects right now include 8SIAN, RoachPunks, The Tiger Archives, and many more. Additionally, Pentas.io has also made its mark as one of the leading NFT marketplaces today.
What is NFT?
Non-Fungible Tokens are items that you are able to purchase digitally using blockchain technology. People commonly use the Ethereum blockchain to make their transactions. It goes hand in hand with collecting rare cards physically, NFT is all about owning the original digital item. There are special codes that make the owned NFT different than copies and that is what attracts people in investing in the NFT industry. Apart from that, people can also invest in them due to how they can experience an increase in value in the future.
How do they work?
NFTs are marketed on their very own marketplace, such as Pentas.io. You must have cryptocurrency to buy the digital item, then create an account on the marketplace that is connected to your cryptocurrency wallet. Ethereum is one of the biggest blockchains and it utilizes the ERC-20 tokens. Apart from Ethereum, NFT enthusiasts have other options as well, such as Polygon, Solana, and Polkadot cryptocurrency.
NFT Projects in Malaysia
On May 2022, Tun M invited RoachPunks to share the goals of the NFT marketplace, Pentas.io, since it is one of the leading marketplaces today. This signifies how big NFT has become in Malaysia and even politicians are interested in the NFT industry. Currently, there are 5 top NFT projects carving their way up to the top.
- Langkah Sheraton
This NFT project utilizes a large oil painting that paints memorable events in Malaysian politics. Born from the mind of YB Tony Pua, the sales from this project will go to the Democratic Action Party (DAP). Unlike other NFTs, holders of this NFT get to own it physically as well.
- The Tiger Archives
This NFT project is a collaboration between Pestle & Mortar Clothing (PMC) and Tiger Beer for the Year of the Tiger according to the Lunar calender. What’s unique about this project is that every single collection is hand-drawn.
- Punks Malaysia
This NFT collection represents pixel multiracial characters. It truly embodies what being Malaysian is all about. Founded in 2021, it is currently one of the top NFT collections in Malaysia.
Founded by Nicole Yap, 8SIAN features 8,888 drawings that highlight the different traits of Asian women and their culture. The artist goes by the name MrHike and it is also one of the top NFT collections in the local scene.
- Bad Ape
We’ve heard of Bored Ape, our local scene has Bad Ape. Launched in 2021, this collection features 10,000 artworks of apes and they are all randomly generated utilizing 250 unique characteristics.