Tokocrypto's Agile Movement Through the TokoMall NFT Marketplace and Expanding Integration in Pluang

Tokocrypto is increasingly aggressive in developing the crypto asset ecosystem and blockchain in Indonesia. Yesterday (19/8), the company inaugurated the platform marketplace NFTs (non-fungible token) ShopMall to support the development of the NFT market in Indonesia, as well as to expand the market reach of local creators to penetrate the global market.

Tokocrypto Chief Strategy Officer Chung Ying Lai explained, TokoMall presents the concept of digital meets reality. Digital platforms and art in the form of NFT can be the answer to real-world problems. By switching to NFT and making it mainstream, local creators can not only market their work to a wider market.

They can also ensure the uniqueness or rarity of his work as an added value that is offered to collectors. In addition, creators can ensure the continuity of royalties from each NFT marketed. "This can be the answer to copyright and royalty issues that creators usually face when doing marketing in the real world," said the man who is usually called Ying, during a virtual press conference, yesterday (19/8).

For collectors, marketed NFT works can be a long-term investment because their authenticity is guaranteed. They can also exchange the collected NFT for goods or original works from merchant partners at TokoMall.

TokoMall has several categories, namely NFT Exclusive which contains TKO Original, TKO Lifestyle, TKO Creative, TKO Stars, and others. Beyond that, it also presents a marketplace category, allowing creators and general collectors to upload their NFT works.

A number merchant partners Exclusive products that can market their work on TokoMall are Nevertoolavish, MaximallFootwear, DAMN! I Love Indonesia, Banyan Core, Si Juki, ONIC E-Sports, Afternoon, Mr. Kinur, Karya Karsa, Jakarta Metaverse, and Museum of Toys.

The creator of Si Juki Faza Meonk said that the creative industry in Indonesia is growing because of digital technology that makes it easier for creators and collectors to access. But with blockchain and NFT, can be a solution as a creator's copyright protection because the work will be recorded transparently on the website blockchain.

"This can also be an alternative for creators to get additional revenue streams and collectors can also appreciate creators by collecting this NFT," he said.

COO ONIC E-Sports Justin Wijaya added, his party will take advantage of the presence of TokoMall to present an exclusive collection that has historical and historical value. digital merchandising specifically on the platform. “NFT has been widely known since the beginning of this year. For collectors there is an opportunity for investment because this type Article new one collectible what's new in digital space this," he said.

To maintain the originality of NFT's work at TokoMall, Ying said that his party will curate. "When it is verified that it is not original, we will blacklist the creator in question."

Part of TKO utilitas utility development

The presence of TokoMall is part of the utility development Token Shop (TKO) which is built on top of the Binance Smart Chain (BSC) network. TKO is exchange which was published by Tokocrypto last March which takes a token approach hybrid unique, namely the CeFi and DeFi utilities.

In the CeFi utility, TKO is used for savings programs such as TKO Deposit, TKO Rebate, TKO Savings, and TKO Cashback. While in DeFi, TKO is used for farming pools and lending. Another utility development is for staking and saving. Investor can lock his TKO to earn interest based on the duration of the deposit.

Therefore, TokoMall only uses TKO for redemption points, can't use exchange other. Creators can mint and offer their works, while collectors can get the NFT by exchanging TKO according to the value listed in each work.

"Use TKO for redemption points because Bank Indonesia only recognizes that the only valid payment is Rupiah," said Ying.

Provide 29 altcoins in Pluang

Not only that, Tokocrypto's efforts to expand crypto asset transactions with other partners. This time the partner to be partnered with is Pluang. Previously, Pluang had collaborated with Zipmex to bring Bitcoin and Ethereum assets since November last year.

Through this collaboration, Pluang users can buy and sell 29 exchange, such as Binance Coin (BNB), Cardano (ADA), Polkadot (DOT), Ripple (XRP), and others in the Pluang app.

Pluang Co-Founder Richard Chua explained, his party observed that Pluang's user needs for crypto assets were increasing as the market developed. "And now, Pluang users can invest in the entire crypto asset ecosystem, from 'Ethereum challenger' coins to DeFi tokens, thanks to our partnership with Tokocrypto," Richard said during a virtual press conference, Wednesday (18/9).

The company not only launched new coins, it also introduced crypto asset trading features, such as limit order and stop limit. This feature allows more experienced traders to take advantage of the volatility of crypto asset prices, as well as market momentum. Previously, Pluang could only trading using the final market price only.

Richard said the presence of this new feature is a tangible form of the company's commitment to facilitating traders beginners and experienced. “Our investment platform will be ready to assist users in carrying out their tactics trading qualified to determine the right time to enter and exit the market.”

It is not stated how many Pluang users are investing in crypto assets at this time. He only said, in the last quarter it grew three times. The collaboration between Tokocrypto and Pluang has actually started since last June, since then until now, the number of Pluang users who have started to enter altcoins has grown significantly.

"We see a lot of these investors doing trading already begun advance from before was still a rookie.”

The interest in investing in crypto assets has continued to grow in the last year. Data from the Ministry of Trade as of last May noted that the number of crypto asset investors in Indonesia exceeded 6,5 million people, or exceeded the number of stock investors of 2,4 million investors based on KSEI data.

This enthusiasm was driven by the younger generation who flocked to transact on crypto investment applications after seeing a sharp spike in crypto asset prices since the fourth quarter of 2020. From January to July 2021, for example, the value of Binance Coin has managed to grow 757%. On the other hand, the values ​​of Cardano and Polkadot have skyrocketed by 644% and 85%, respectively.

This figure far exceeds the value of Bitcoin which only grew 43% in the same period. Then, altcoin transactions account for 70% of the total transaction volume in Indonesia when the peak of the crypto asset price rally occurred earlier this year.

It is said that Pluang's users have crossed over 1 million people, while Tokocrypto's has reached 900 thousand people. Among crypto asset traders in Indonesia, Indodax is the largest with more than four million users.