Valiant Eagle Inc. provide shareholders with an update on the development of Fungy, after unveiling the state-of-the-art NFT platform in June 2021. The initial phase of development for the NFT marketplace involves creating the design and flow of the platform. The output of this process is a homepage with the different pages the marketplace will have, along with what belongs on each page, how the pages will look, what buttons will be utilized, etc. This process has already been started and some of the main pages have already been designed. Here are a few key pages that have already been developed: Explore - Where users navigate through the different NFTs already added to the system and currently available - NFT Details - Provides details of the NFT along with the different call to actions like "Buy" or "Bid" - Create NFT " Page where artists can create their own unique NFTs by upload the art and minting it onto the Ethereum blockchain. The foundation of the project, the smart contracts that live on the Ethereum blockchain, has already been programmed and tested. The backend development of Fungy (part of the web application that doesn't have visual pages attached, such as databases, algorithms, etc.) has already started with the creation of a first version of the database schema. This is the most important part of the backend and is the backbone of the underlying web application.