Mongolia hosts mystic Tibetan Buddhist monasteries as well as fierce horse warriors who are blessed by the eternal Tengri (the sky god in folk Shamanism). The harsh and cold climate on the plains has forced people to travel to other parts of the globe in search of adventure. Blockchain enthusiasts now have the opportunity to hear their stories through nonfungible tokens via the Mongol NFT platform.
Since its inception in September, the platform has surpassed 100,000 registered users and close to 400 creators in various stages of their projects. Cointelegraph spoke exclusively with Gabit Bazar, Adiya Bayansan and Adiya Basar about the future of Mongol NFT. They discussed how the project is bringing Mongolia back to the global stage.
Cointelegraph: Who are the participants on your NFT platform?
Gabit Bazar and Adiya Bayansan: It’s everyone; we have many different areas of artists — they’re singers, artists, painters, movie producers, etc.
CT: Which blockchain(s) is this NFT platform based on?
GB & AB: It’s multi-chain. We have Ethereum and are also looking to support Polygon. Next is Solana. It’s up to the creators to make that decision.
CT: What are some of the themes surrounding the artwork in these NFTs?
GB & AB: We have a theme of the 13th century, for example, during the time of Genghis Khan. Another artist is focused on Tengri and Central Asian nomadic steppe culture. One artist appeared in the Marco Polo [who journeyed east to visit Kublai Khan], Netflix show. He will produce cartoon NFTs about that topic.
CT: How many NFTs have people bought and sold so far within the past year?
GB & AB: We launched only about two months ago, on Sept. 17. And we already have approximately 5,000 drops in. And out of those 5,000 drops, our record selling is within five seconds.
CT: And what is the vision behind the platform?
GB & AB: Very simple; every country has a great history, culture, and character. […] Not everyone knows the character inside. They might only know a few very well-known artists. This is what Mongolia is like. We are determined to showcase its talents on the international stage. We were always behind the rest of the world by 20 years, 30 years. With NFTs, blockchain technology and other technologies, we all start from exactly the same place.
CT: What does the current state of cryptocurrency adoption look like in Mongolia?
GB & AB: So currently, we do two things: first, someone who purchases the NFT can also use the fiat Mongolian currency (Togrog, p. Tugrik) or use our coin called MNFT. Bittrex is our partner exchange. Creators can either cash out to the exchange or transfer their Tugrik to Mongolian banks.
CT: What does the roadmap look like for Mongol NFTs in the future?
GB & AB: So Mongol NFTs was the beginning of the marketplace, then we evolved to MNFT coin, where we want to make it a utility for people. These will only be available to MNFT holders, but they will contain the exact content. The next steps are exclusive video streaming and music streaming. Today, young artists are able to upload songs to Spotify and iTunes. However, it can be hard for others to discover about them. This can make it difficult to get the economic benefits. We want to establish a Mongolian streaming platform powered by MNFT coins. We are trying to change the industry so that young people who love music can join the platform, get their NFTs and create their music. Then, everyone can listen to it.
Number two, most NFT initiatives also include buying land on The Sandbox, similar to Adidas sportives. All the big boys have the land. We’re now building the Mongol Valley in Sandbox. We’re asking you, “Why?” You may have heard of Naadam, our annual wrestling festival. Our country’s goal is to attract as many tourists as possible. Tourism will be created in the metaverse. They can visit the festival and the arts. Then they can go to the market to buy NFTs. This is the entire purpose of the metaverse. Exhibitions and concerts can be done by any artist; we intend to do it as a whole country. In support of this initiative, the Ministry of Culture of Mongolia also endorses us.