Mongolia Targets “Real economy blockchain+” Growth Through Large-scale NFT Land, Assets Initiative

Place/Date: – August 5th, 2022 at 12:01 pm UTC · 3 min read
Contact: Business,
Source: HeySheep

The Mongolia National Blockchain Digital Asset Exchange (MDE) opened to the world in 2022, officially launching its globalization and digitization strategy. MDE is the only national-level digital asset exchange in operation in Mongolia and is a direct institution of the Mongolia-China “Belt and Road” Trade Development Promotion Committee, which affords it the endorsement of the Mongolian government.

MDE is a national exchange promoted by Mongolia’s central government, which, in light of intensifying research into blockchain technology and its applications, will vigorously promote the combination of industry and blockchain + and a range of implementable applications and projects.

With the aim of responding to the increasing popularity of and development trends in blockchain technology, MDE obtained the right to use 300 hectares of land in Mongolia’s Dzamiin-Üüd Free Trade Zone for 45 years on June 20, 2022. The business licenses it obtained include legal business licenses for digital asset trading, lottery, gaming, jockey clubs, energy, and duty-free trade. On June 30, 2022, it received $50 million in the first round of financing from New Mongolian King Group.

Under this initiative, MDE also launched the sale of high-quality Mongolian cattle and sheep, along with the possibility of land ownership in the area in the form of NFTs called HeySheep, which will be sold on major NFT platforms. The issuance of these HeySheeps represents one of the largest real economy blockchain+ initiatives in the history of blockchain to date, and has been recognized by industry insiders and commentators around the world. The benchmarking object of HeySheep is real sheep and it is the first NFT in the world to anchor Mongolian sheep.

Users who hold related NFTs can enjoy an income from the sale of these cattle and sheep or the income generated by the investment projects on the land. Meanwhile, part of the profits from the sale of the NFTs will be used to repurchase the exchange platform token CGK, and the other part will be used to invest in high-value investment projects operating in Dzamiin-Üüd. In addition, part of the profits obtained by these projects will be given to users who hold NFTs, and part of these profits will continue to be used to repurchase CGK.

Mongolia’s unique geographical conditions and location mean that it can play a more prominent strategic role in the world through such initiatives, and all users who participate in this, and other, initiatives can create mutually beneficial partnerships with Mongolia and drive the bright future of both Mongolia, blockchain users and the technology itself as the new digital economy opens up and Mongolia’s national strength increases.

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