31 March 2022
Press statement by MCA National Youth Spokesperson Jacob Lee Yee Yuan
Assist the younger generation in achieving success in NFT and e-sports arenas
I would like to urge the government to focus on non-fungible tokens, or NFTs, which appear to be gaining traction among Malaysia's younger population, particularly in this period of globalisation.
The most common use of NFT, according to the Securities Commission Malaysia (SC), is for collectible items such as art, music, sports, and others. Because NFTs cannot be traded or exchanged on parity, they are more secure than cryptocurrencies.
NFT can also be utilised to grow the country's e-sports business, which is becoming increasingly popular. According to recent reports, Malaysia's digital game industry has achieved significant progress with the launch of Soulbond: Rebels Arise, a multi-player character game developed by a local company.
This proves that e-sports in Malaysia has great potential, not only in terms of players but also in terms of digital game development. In fact, well-known names in e-sports such as NothingToSay and Oli who managed to make Malaysia famous in the Dota2 competition at "The International 10" held in Romania last year should be the catalyst for the birth of a great generation in e-sports.
The support of Deputy Minister of Youth and Sports, Dato 'Sri Ti Lian Ker for the two players from Malaysia, Cheng “NothingToSay” Jin Xiang and Chan “Oli” Chon Kien in resolving their problems in obtaining the “MyTravelPass” approvals to participate in the world championship competition is very welcome and commendable.
The government is therefore urged to immediately look at the potential of this NFT and start taking measures to formulate a direction related to NFT and e-sports in Malaysia.
MCA Youth is ready to play a role in helping the government reach out to youth to obtain their views and feedback. Most importantly, all the needs of the youths should be given due consideration.
Jacob Lee Yee Yuan
MCA National Youth Spokesperson