News & Reviews:   Non-Fungible Token

If you recall, non-fungible tokens (NFT) were the rage that companies tried to capitalise on but were met with a lukewarm reception from the netizens. Last year, Meta wanted to integrate NFTs into its Facebook and Instagram platforms to help creators and it looks like it's not turning out so great.

Pos Malaysia Berhad today announced the launching of its first non-fungible token (NFT) stamps for collectors in conjunction with Merdeka Day and Malaysia Day celebrations. The limited edition NFTs are redeemable for free with every purchase of the #Empatbleas Setem Ku special edition stamp folder set which retails at RM59 each.

These days, companies are really trying to take advantage of having non-fungible tokens (NFTs) in whichever platform they are having. Instagram is the latest player to join the bandwagon and it has begun testing NFTs.

The Deputy Minister of Communication and Multimedia (K-KOMM), Datuk Zahidi Zainul Abidin has urged for the Federal Government to adopt cryptocurrency as legal tender in Malaysia. Claiming that crypto is ‘the future of finance’, Zahidi also said that his ministry will be looking into ways to increase youths' involvement in digital currencies.

The K-KOMM Deputy Minister made the statement in the Dewan Rakyat today in reply to a supplementary question from the Member of Parliament (MP) for Ledang, Syed Ibrahim Syed Noh. The latter asked K-Komm on the government’s stance on non-fungible tokens (NFTs) trading which are becoming more popular in our country.

Meta Platforms chairman and CEO, Mark Zuckerberg yesterday confirmed that non-fungible tokens (NFTs) are coming to Instagram soon. In fact, the Facebook founder said that Meta is currently working on doing just that and hopes that it would be accomplished ‘in the near term’.

This announcement comes as no surprise as Meta has previously announced its interest with NFTs. Earlier this year, Instagram top executive Adam Mosseri said that the company is ‘actively exploring’ NFTs and even made plans to add NFTs into its crypto wallet Novi.

Malaysians may soon be able to own their vehicle registration number and other mainstream assets as a non-fungible token (NFT) after My E.G. Service Bhd (MyEG) announced that it is officialy entering the NFT space. The company yesterday launched NFT Pangolin, a marketplace that allows users to mint, sell and trade NFTs.

According to a report by The Star, NFT Pangolin currently supports ethereum and will operate on the Zetrix Layer 1 blockchain network after its launch in the near future. The latter serves as parallel chain to the International Backbone and Supernodes of Xinghuo, China’s national blockchain infrastructure.

NFTs are sure getting a lot of buzzes these past few weeks. So much so that YouTube is actually considering exploring this option for video content creators to earn some profit. This came from Susan Wojcicki, the CEO of YouTube when she wrote an opening letter for the company's direction in 2022.

If you've been following various news, you might have heard of the term NFT (Non-Fungible Token). We won't go into the details today, but NFTs are essentially pieces of data that represent digital items of value. Now, Meta could be looking to join this bandwagon.