A week ago we reported that the local NFT buying and selling site Pentas.IO was down, causing the digital collection and the NFT buying and selling site to be inaccessible. The Stage said the disruption occurred on August 18 and continues to this day. Today we received confirmation that the site will be back in operation from September or at the latest next October.
Disruptions are due to issues with back-end systems and expensive hosts. Because of this the old is now placed in overhaul mode with the developers planning to update and also upgrade the site's interface.
The date for the site to be back in operation is in line with the timeline of funding for the Digital Asset Onboarding program organized by Pentas in collaboration with MDEC which has been delayed several times.
The demand for NFTs is already decreasing compared to the peak in early 2021. At that time the Stage became the forge of NFTs Rusuk Emas by SueAnnaJoe was successfully sold with a value of 22BNB which is around RM52,000 according to the exchange rate at that time.