NAGA announces discount stock trading and proprietary NFT platform
The NAGA NFT platform will allow users to create and trade their own works of art, music and digital content and its proprietary wallet will be used to pay for and store the NFTs on the Ethereum blockchain.
NAGA has launched stock trading for EUR 0.99 per trade, a massive discount in comparison to many stockbroking offerings by incumbents. The discount brokerage service is available for clients in more than 100 countries.
The Hamburg-headquartered trading company is also pushing the boundaries in the digital asset space as it plans to launch its very own NFT platform this year. The service will allow the creation and trading of NFTs.
The provider of the social network for trading, cryptocurrencies, and payments continues to push ahead as it grows its business quite extensively across the globe.
Benjamin Bilski, founder and CEO at NAGA: “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”.
“The whole offering is also instantly connected to our social trading functions. Financial influencers who normally present their own trades on YouTube, Instagram or TikTok are already using their own NAGA profile and successfully monetize their content through the platform. With expanding to a more attractive pricing model we expect further user activity.”
NAGA has introduced trading in physical stocks for EUR 0.99 per trade for clients of over 100 countries, thus covering a significant part of the global markets.
As to NFTs, these stand for “Non-Fungible-Token” and allow assets or their ownership structure to be digitally stored on a decentralized database via the blockchain.
Most popular in digital art, sports, and music, NFTs have seen their trading volume in 2021 jumping to an estimated USD 20 billion, with much room to grow.
“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”.
The NAGA NFT platform will allow users to create and trade their own works of art, music and digital content and its proprietary wallet will be used to pay for and store the NFTs on the Ethereum blockchain. NFT owners can set a “royalty fee” and receive a percentage of the trade per transaction.
“We expect a greater reach, new acquisition channels and revenue streams. We will become the first investment platform to offer social trading, stock trading, cryptocurrencies, payment services and NFT trading. This once again underlines our innovation leadership and our vision of becoming a super app for investments and digital money management”, said CEO Bilski.
NAGA has recently completed its largest equity financing round to date, a 10% capital increase with total proceeds of approximately EUR 22.7 million.
The Germany-headquartered social network for trading, cryptocurrencies, and payments has welcomed Christian Angermayer’s Apeiron Investment Group and Igor Lychagov, founder of Exness as new strategic and long-term investors.
