[PRESS RELEASE – Singapore-August 13, 2022]
EQBR Holdings (EQBR), a pioneer of Web 3.0 infrastructure providers, announced the launch of its new US-based NFT service company, My Flex, Inc. which will develop a new peer-to-peer (P2P) platform for enterprises and consumers to capture the value of authenticity through its NFT marketplace.
The landscape for NFTs are evolving from online digital assets to online-to-offline (O2O) commerce experiences for consumers. The authentication and P2P capabilities of NFTs are the basis to provide solutions which greatly benefit multiple industries like luxury goods. In 2019, the global market size of counterfeit goods reached $450B and it continues to grow especially during the pandemic era.
Counterfeit goods decrease the brand quality and result in loss revenue for luxury goods. Additionally, it is very difficult to authenticate pre-owned items. To combat these problems, luxury brands can use NFTs and blockchain technology to guarantee authenticity throughout the life of the product, by having traceability from creation, to the initial purchase, and all subsequent resales that may follow.
My Flex was founded to provide the latest technologies and services to this industry. At the helm of My Flex is co-founder and CEO Soon Kim, a former director at VMware and Microsoft who led global business development and sales in cloud, smart devices, and services for the last 30 years. “I have always dreamed of building the technology and services to connect consumers directly to enterprise services without using an intermediary system.
I was very excited about the EQBR platform when I first saw it and I believe that it will be the platform to make my dream come true. My Flex’s NFT services will provide immense value and new revenue opportunities to our partners and customers especially in the luxury brands industry,” said Kim. “We will continue to develop new solutions and applications to unlock the value of Web3 with our technologies.”
My Flex will be based in Silicon Valley. The official launch for the NFT platform is set for December 2022.
About EQBR Holdings:
Founded in 2020, EQBR has engaged with various businesses as an operator, investor and third-party solutions provider. EQBR’s innovative blockchain engine called Equilibrium is the world’s first commercially-viable blockchain. Since then, EQBR has developed several dApps on top of Equilibrium, including Whisper Messenger (a blockchain-based secure messenger), EQBR Hub (a low-code developer tool) and now, My Flex (an NFT minting platform).