OUR BUSINESS STRATEGIES TO SUSTAIN VALUE CREATION (cont’d) MYEG ventured into blockchain technologies beginning in FY2021, signing several strategic agreements with local and international partners. This venture into blockchain is driven by an ESG agenda, which includes a 2050 zero carbon pledge. The continued proliferation of blockchain across the business model is driven by the Group’s increased pivot to a multi-capital lens that is driven by ESG considerations. The efforts of the previous financial year culminated in FY2022, when on 10 March 2022, MYEG launched NFT Pangolin, a global NFT marketplace powered by MYEG-backed Zetrix. In FY2022, as economies and societies fully reopen, we are now positioning ourselves for the next phase of economic transformation by being an early adopter of Web3 technologies. At MYEG, we see the potential of Web3/blockchain in revolutionising businesses and organisations while at the same time, fostering sustainable practices. MYEG’s blockchain initiative has therefore been progressively building up in FY2022. On 12 April 2022, MYEG completed the foundational development for its Zetrix Layer-1 blockchain and launched the mainnet on 15 April 2022. Phase one of Zetrix sets the foundation for the development of a decentralised applications platform that supports supply chain traceability and financing. This includes verifying claims of sustainability and product certifications from the source right to the consumer. Consumers can then make more informed choices when purchasing products and services. Through blockchain, MYEG has also developed its MYEG Lock-Earn Wallet. The Group also has developed several proof-of-concepts with many having reached the testing phase with promising success. Notably in FY2022, alongside MIMOS, MYEG entered into an MOU to develop and operate the national Layer-1 public blockchain using Zetrix and MIMOS blockchain technology, as the components of the MBI - a key element of the National Blockchain Roadmap that was launched by the Malaysian government. 49
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