NAGA Launches Stock Trading Globally and Announces Its Own NFT MarketplaceOctober 27, 2021
The Hamburg-based social trading platform, NAGA AG (XETRA: N4G) announced today that it had launched global stock trading and its own NFT platform, allowing the creation and trading of such assets. According to the press release shared with Finance Magnates, the company is adding trading stocks for EUR 0.99 per trade for customers globally.
“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 on shares, mainly in Europe. After a long planning period, we have now managed to expand the stock offering to over 100 countries and still offer an extremely attractive price 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 cost. The whole offering is also instantly connected to our social trading functions,” Benjamin Bilski, Founder and CEO of NAGA, commented.
Moreover, its NFT marketplace is set to launch in late Q4 this year, which will allow users to create and trade their own works, including art, music and digital content. In addition, the NAGA NFT platform will be available via a wallet connect. Also, the social trading platform noted that NFT owners could set a ‘royalty fee’ and receive a percentage of the trade per transaction.
NAGA’s Inception into NFTs
“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 an additional signup. We strongly believe in the NFT market because almost anything can be tokenized. The NFT movement is revolutionizing ownership and making it virtually independent of location,” Bilski stated. Furthermore, NAGA expects to drop its own NFT collection as part of the launch.
Finance Magnates recently reported that NAGA set yet another quarterly record with its financials, generating around $21 million in revenue for the third quarter of 2021.
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