SINGAPORE, Jan. 16, 2018 /PRNewswire/ -- Singapore-based MegaX
introduces the
first-of-its-kind global millennial online mall, having raised USD2.5M from a token sale concluded on
16 November 2017.
MegaX, a partnership between iFashion Group and MC Payment, has
launched an online mall (Megaxstore.com) targeted at millennials.
Having been in the retail industry since 2009, the mall has served
over 1 million customers worldwide. The mall will provide visitors
with access to over 1,500 global brands and 80,000 products,
featuring items such as the Google Pixel 2, the Oculus Rift Touch
VR System, iPhone X and even adrenaline-pumping toys like a hydro jet that allows a rider to hover above the sea. The
online mall will also include exclusive concierge service which
aims to provide shoppers looking for a getaway with unique holiday
experiences. Customers should
expect packages such as exotic stays in Irish castles,
silver mines, airplane fuselages and even ice hotels.
The ability to transact using MGX coins and other
cryptocurrencies will provide crypto-savvy millennials with the
opportunity to experience a new retail phenomenon in the future of
a cashless society. MegaX envisions
and has been working towards a future where ultimately MGX, the
native currency, will be the cryptocurrency of choice for
millennials to earn, spend and transact with. A fresh and emerging retail network,
MegaX will pave the way for emerging retailers to engage with
millenials.
Bitcoin Cash (BCH) is an example of an evolved cryptocurrency
that is ready for real-world use and is able to cater to retailers'
needs such as having faster transactions and lower fees. "By only
accepting MGX and BCH instead of fiat for payments, we are
determined to bring about 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. Cryptocurrencies have seen unprecedented growth in 2017 and
we believe that growth will continue."
Megaxstore.com is piloting a rollout by accepting Bitcoin Cash.
MegaX aims to help new-age retailers and cryptocurrencies reach out
to a large addressable market, the millennials. A 2016 Accenture
report states that within Asia
alone, millennials are expected to collectively constitute
USD 6 trillion in disposable income
by 2020. According to a CBRE survey, 30% of this income is spent on
leisure activities such as shopping and eating out.
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. The
retail companies behind MegaX have served more than 10 million
customers and will use an omni-channel approach in spurring real
world adoption of MGX. Token holders can also expect to pay with
MGX at multiple native offline events such as the next installation
of Artbox Singapore – a creative market concept popularised in
Thailand, which attracted over
600,000 attendees and totaled 30 million
USD in transaction volume during its inaugural Singapore outing over 2 weekends in
April 2017.
Visit http://megaxstore.com / http://megax.io for more
information or the following contact points
Instagram: https://www.instagram.com/megaxcoin
Facebook: https://www.facebook.com/megaxcoin/
Twitter: https://twitter.com/megaXcoin
Telegram: https://t.me/Megaxcoin
Medium: https://medium.com/@megaXcoin
About iFashion Group
iFashion is a leading venture conglomerate company focused on
investing and acquiring fashion and lifestyle e-commerce ventures
based in Southeast Asia. To create
synergy among businesses, the Group aggregates highly complementary
businesses via mergers and acquisitions in its sectors of interest.
The Group acquired, most notably, local O2O brands Dressabelle and
Megafash, in the lead up to an IPO.
About MC Payment
Founded in Singapore in 2005,
MC Payment is a leading innovative fintech company that has a
strong regional presence with end-to-end value-chain of commerce
transactions, ranging from suppliers and merchants to consumer
payments. Its technology entails both retail to online payments,
mobile to Distributed Ledger Technology. MC Payment has become the
bridge that facilitates commerce transactions across the region,
with payment acceptance ranging from credit and debit, to locally
preferred alternative payments, while serving regional merchants
and financial institutions alike.
About Megaxstore
Megaxstore is a multi-label online mall dedicated to inspire and
motivate customers with creative goods found around the world.
Megaxstore now operates over 7 stores across Asia, offering experiential retail spaces and
a well-curated mix of tech products, hotel stays, homeware, food
items, stationery, novelty goods, travel essentials, apparel for
men, women and children; as well as accessories.
View original content with
multimedia:http://www.prnewswire.com/news-releases/retail-conglomerate-launches-online-mall-accepting-only-megax-and-bitcoin-cash-300583708.html
SOURCE MegaX