NAGA.com adds €0.99-per-trade stock trading, NFT platform
Social trading broker NAGA Group AG (ETR:N4G), which operates the Cyprus based NAGA.com Retail FX and CFDs brokerage brand, has announced that it is branching out into “physical” stock trading, as well as into the world of NFTs.
Effective immediately, NAGA is introducing trading in physical stocks for €0.99 per trade for clients in over 100 countries.
Benjamin Bilski, founder and CEO of NAGA commented on the launch:
“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 also announced its own NFT marketplace, which is planned to launch late Q4.
NFT stands for “Non-Fungible-Token” and allows assets or their ownership structure to be digitally stored on a decentralized database via the blockchain. NFTs are particularly popular in digital art, sports, and music. The trading volume in NFTs for 2021 is estimated at over USD $20 billion, with high growth rates for the years to come.
“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,” says Bilski.
The NAGA NFT platform will allow users to create and trade their own works of art, music and digital content. The in-house NAGA wallet will be used to pay for and store the NFTs on the Ethereum blockchain. Users can also use the NAGA NFT platform via a wallet connect. Income is generated by creating NFTs as well as actively trading NFTS on the platform. NFT owners can dynamically set a “royalty fee” and thus receive a percentage of the trade per transaction. NAGA plans also to drop an own NFT collection for the launch.
“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”, concludes Bilski.
NAGA reported record quarterly Revenue of $21 million and EBITDA of $5.2 million in Q3-2021. The company recently raised €22.7 million from Christian Angermayer’s Apeiron, and from Exness founder Igor Lychagov.