MonsterX, a non-fungible token (NFT) commerce platform, announces its upcoming launch on the Solana network in August 2022. Targeted at investors of physical assets and commodities, the platform is equipped to overcome the issues of counterfeit goods, as well as the use of non-fungible tokens (NFTs) and curation together with authorised partners and artists.
The platform has been in the works at MonsterX since April 2021, and together with the support of angel investors and advisors from leading tech and venture capital companies, the end product will make its debut after 15-months of hard work.
“The growth of the crypto market has been phenomenal last few years, and the market adoption by venture capital firms has been witnessed as well. However, one of the traditional investors’ dilemmas in crypto is to determine whether NFT projects have a tangible asset value,” explained Kyle Kim, CEO of Pearl Abyss Capital, and angel investor and advisor to MonsterX.
“MonsterX is tackling this issue by integrating their NFT platform with physical assets and commodities where we recognize an intrinsic value for investment.”
This is achieved through the steps of verifying and curating NFT projects tied with physical assets, allowing easy access for authorized resellers and partners to mint NFTs of physical assets and commodities, and supporting the transaction process from start to completion of delivery. Utilizing the Solana network also benefits users in the form of low fees and fast transactions, with a multi-chain support plan for other major layer-1 networks such as Ethereum, Polygon, Avalanche, and more in the pipeline.
Under the motto of “NFTs for Good”, the MonsterX team will also use the platform to help raise funding for upcoming public art projects from young artists by partnering with non-governmental organisations in the art space.