March 18, 2021 – Sino-Global Shipping America, Ltd. (NASDAQ: SINO) collaborates with the public blockchain CyberMiles to launch a new exchange for NFTs (non-fungible tokens). The new NFT exchange will serve as a highly-secure, robust platform for collectors, artists, musicians and investors to create, sell and buy one of a kind, digital content represented as NFTs. The companies expect to officially launch their new NFT platform in July 2021, providing a critical link between the virtual blockchain world and the physical world.
Non-Fungible tokens (NFTs), also ERC721 tokens, have captured the public’s imagination since it was first introduced as an EIP in September of 2017. Non-Fungible tokens allow issuers to tokenize the ownership of digital assets, drastically increasing the design space of what can be represented as a token on the Ethereum and EVM-compatible blockchain.
Over the past few months, NFT has become the hottest topic in the blockchain field. A digital artwork hammered for $60.25 million at Christie’s in New York.
Celebrities like Elon Musk, Jack Dorsey, and Justin Roiland, the creator of Rick and Morty, have also begun to use NFT to represent their Twitter content, original paintings or other artworks on the blockchain, proving their unique ownership on the Internet.
CyberMiles public blockchain empowers the NFT platform
CyberMiles is a high-performance public blockchain that actively explored the distributed economy and technological ecology, it was the first to propose a high-performance commercial solution for the Ethereum public blockchain DPOS consensus. This solution has been adopted by blockchains initiated by Binance and Huobi. As early as 2018, CyberMiles has begun to promote and support NFT minting, trading, etc., and it is also the first public blockchain to be used in the NFTization and auction of artists’ works.
With over three years of growing, NFT has gradually been applied to projects and products in fields including games, art, DeFi, and has also expanded to the general public from a small number of crypto geeks.
Despite the actual business development of NFT in the past few years, the key problems of NFT have been identified, such as low liquidity, the difficulty in the transformation of digital values from physical products, etc. These are the thorny pain points that fetter the development of NFT and need to be solved urgently.
Take the current hottest NBA Topshot as an example. Except for the classic moment NFTs of a few popular players, a large number of NBA players’ NFTs are difficult to circulate, with their value hard to be discovered. The extremely simple process of issuance result in the churning of tons of worthless NFTs. The lack of sense of aesthetic sense and obstacles in purchasing cryptos have reduced many NFTs to pure meaningless and unsustainable hype. NFT is still in its early stage of development to be recognized by the mainstream.
But as Satoshi Nakamoto said, “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”
CyberMiles will join forces with Sino Global to take NFT as the current focus of development. The NFT platform is developed based on the CyberMiles team’s years of technical and engineering efforts, combined with the powerful and high-performance CyberMiles public blockchain, will effectively solve the current NFT pain points mentioned above. This NFT platform will also continuously iterate and be optimized, driving the CyberMiles blockchain to boom with the NFT ecosystem.