Pentas is one of the NFT-focused trading platforms in Malaysia, which has seen over 46,000 NFT works uploaded and published through it in its first 90 days, with some works selling for over RM50000. Pentas has also previously hosted several collaboration programs, including with MDEC which offered a reward of RM4 million for 1000 publishers of works on Pentas.
For your information, the service has not been accessible for the past few months. That makes it difficult for many published works to be accessed or viewed by others on the Pentas platform. Due to various problems with the service, its developers have now announced via social media that they will be temporarily suspending it, or in other words, "pausing it."
Hey everyone, let’s talk about https://t.co/LmqOAafPPl, our NFT marketplace.
— Pentas | NFT Marketplace (@pentas_io) January 2, 2025
Some of you may have noticed the site isn’t live right now.
Here’s the real story and why we’re not giving up
In addition, the developers say that Pentas' service leads to high AWS hosting costs, and they cannot afford it without additional funding. Pentas says it has tried to raise further funds, including applying to various funding programs, but has been unsuccessful. Previously, Pentas charged a 2.5% service fee for sales through the platform.
Commenting further, the developers of Pentas said they will not give up and will try to come back with a more sustainable operating method, as well as supporting the local creative community. At this time, there is no timeline given for when Pentas will return to full operation or guidance on how creators can access their work that has already been published through the platform.
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