NAGA Group has announced the launch of new products for its investing and digital asset platform.
The provider of social network for trading has introduced trading in physical stocks for EUR 0.99 per trade for clients in more than 100 countries.
Benjamin Bilski, founder and CEO, commented:
Our vision is largely based on a broad range and direct access to financial products worldwide. In the current year we have recorded over EUR 3 billion of trading volume in shares, mainly in Europe. After a long planning period, we have now managed to expand the stock offering to over 100 countries with an extremely attractive pricing model. Hence, we now offer more than 1,500 tradable assets. With this step, we will be able to address a wider range of users and at a lower customer acquisition cost.
Bilski added:
The whole offering is also instantly connected to our social trading functions.
The Group also revealed its own NFT marketplace, to be released in the fourth quarter of the year. The “Non-Fungible-Token” platform allows assets or their ownership structure to be digitally stored on a decentralized database via the blockchain. NFTs are gaining popularity in digital art, sports, and music with estimated trading volume in 2020 of more than $20 billion, with high growth rates for the future.
Bilski said:
The NFT market is growing rapidly and will continue to develop. With NAGA we want to offer our users a direct route to NFT trading and position ourselves early as the mass adoption is yet to come. Since a digital wallet and cryptocurrencies are required for NFT trading, and we already offer this on our platform, NAGA users will be able to enter the world of NFTs directly without any additional signup. We strongly believe in the NFT market because almost anything can and ultimately will be tokenized. The NFT movement is revolutionizing ownership and making it virtually independent of location.
Through NAGA’s NFT marketplace, users will be able to create and trade their own works of art. They can use the in-house NAGA wallet to pay for and store the NFTs on the Ethereum blockchain. The NAGA NFT platform can also be accessed via a wallet connect. Through the creation or trade of NFTs, users can generate income. NFT owners can also set a “royalty fee” and receive a percentage of the trade per transaction. NAGA Group noted that it plans to release its own NFT collection for the launch.
