FSN Signs MOU for NFT Business Collaboration with Comprehensive Entertainment Company Abyss Company

[Asia Economy Reporter Jang Hyowon] Comprehensive marketing group FSN is expanding its NFT (Non-Fungible Token) business in the entertainment sector through collaboration with a specialized entertainment company.

On the 23rd, FSN announced that it signed a strategic business agreement (MOU) regarding the NFT (Non-Fungible Token) business with comprehensive entertainment company Abyss Company. The purpose is to cooperate in the NFT business based on the synergy between FSN's proprietary blockchain technology and network and Abyss Company's entertainment business division.

The MOU signing ceremony held at FSN headquarters located in Gangnam-gu, Seoul, was attended by FSN co-CEOs Lee Sangseok and Seo Jeonggyo, Abyss Company CEO Lee Donghyung, and other key executives.

Starting with this MOU, both companies will actively collaborate on the NFT business. FSN will provide blockchain-related technology and know-how, including its proprietary cryptocurrency 'SIX,' decentralized finance (DeFi) platform 'Definix,' and NFTs, and will take charge of development and operation related to NFT creation, distribution, trading, and other value-added services. They also plan to actively utilize overseas business networks, including Greater China and Southeast Asian markets.

Abyss Company will also collaborate on joint development and provision of content for NFT business purposes using its affiliated artists and other owned IPs. They will jointly promote NFT-linked businesses based on the fandoms of their artists and actively engage in joint promotions and marketing to expand related businesses.

Last month, FSN launched its first official project, an NFT collection commemorating the comeback of girl group T-ARA. Recently, FSN signed an MOU for NFT and P2E business cooperation with Comseed, a Japanese smartphone game platform operator, actively expanding its blockchain business sector.

The company expects high synergy effects with Abyss Company, a comprehensive entertainment company that houses K-pop artists with broad fandoms not only in Korea but across Asia, including Sunmi, BamBam, and Park Sandara, and plans to actively explore new NFT market opportunities.

Lee Sangseok, co-CEO of FSN, said, "The MOU with Abyss Company, which holds powerful influence in the global market including K-pop, will be an opportunity for FSN's NFT business to expand more rapidly and secure scalable NFT IPs. Through differentiated and highly competitive NFT planning and discovery, we will leap forward as a leading global blockchain company."

This content was produced with the assistance of AI translation services.