Millennials, get your bitcoin wallets ready because an online mall just introduced cryptocurrency payment.
Singapore-based MegaX introduces first-of-its-kind global online mall targeted at millennials, MegaX.
A partnership between iFashion Group and MC Payment, MegaX was launched after raising USD2.5M from token sales.
MGX coins and other cryptocurrencies will be used for transactions, allowing the crypto-savvy millennial to feel the era of a cashless society more practically.
MGX coin is the native currency, and MegaX hopes that it will be the cryptocurrency of choice for millennials to earn, spend and transact, paving the way how retailers engage with millennials.
“By only accepting MGX and Bitcoin cash (BCH) instead of fiat for payments, we are determined to bring about the real-world adoption of cryptocurrencies,’ said Jeremy Khoo, Group CEO, iFashion Group.
“Despite a market cap of 728 billion USD in cryptocurrencies right now, most retailers do not accept them as a form of payment.
“Retailers looking to resonate with the new generation of consumers should be fearlessly agile and open to adopting new payment forms,” he said.
Thoughts on the future of cryptocurrencies, he believes that it will continue to grow even after we’ve seen the growth in 2017.
MGX as a cryptocurrency revolves around the millennial movement and aims to create a retail revolution by better engaging with these segment of customers and being their currency of choice.
CEO of MegaX, Jiawen Ngeow said the existing crypto users are very happy.
“The MGX and BCH holders are receiving three times their return because of the current trading price, and they are spending it on our store,” she said.
“As for the non-crypto users, there is a bit of an educational aspect to cover.”
The global online store provides visitors with access to over 1,500 global brands and 80,000 products, items such as the Google Pixel 2, the Oculus Rift Touch VR System, iPhone X and even adrenaline-pumping toys like the hydro jet.
The online mall will also include exclusive concierge service which provides shoppers looking for a getaway with unique holiday experiences, like stays in Irish castles, silver mines, aeroplane fuselages and even ice hotels.
But most importantly, they ship internationally.
So get your (crypto) wallet out and check this mall out.