IPX Signs Business Agreement with Blockchain Service Platform 'PlayDapp'

[Asia Economy Reporter Seungjin Lee] IPX (formerly Line Friends) announced on the 2nd that it has signed a strategic business agreement (MOU) with the blockchain service platform PlayDapp. Centered on its digital intellectual property (IP) creation platform ‘FRENZ,’ set to be officially launched early this year, the companies plan to develop multifaceted collaborations and fully activate a digital IP entertainment business based on the three-dimensional virtual world (metaverse) and non-fungible tokens (NFTs).

PlayDapp is a dApp game portal that offers a multi-homing game experience across various platforms such as ‘Crypto Dozer’ and ‘Along with the Gods,’ based on blockchain technology, as well as providing an NFT marketplace service.

As the only Korean team, PlayDapp has proven its competitiveness by being listed on global top exchanges including Binance (No. 1), Coinbase (No. 2), as well as Upbit and Bittrex Global. Recently, it launched the virtual playground ‘PlayDapp Land’ on the metaverse company Roblox, promoting the fusion of metaverse and NFTs, and has been leading blockchain technology support through the commercialization of the PlayDapp SDK (software development kit).

Through this strategic business agreement, both companies will pursue multifaceted collaborations to expand the IPs created on IPX’s FRENZ, which is scheduled for official launch early this year, into metaverse and NFT services. FRENZ is a platform developed to allow anyone to create and own ‘character IPs,’ which were previously considered exclusive to famous artists or brands.

First, the two companies will jointly build PlayDapp’s peer-to-peer NFT marketplace by May, enabling anyone to NFT-ize and mutually trade character IPs they create through FRENZ on the marketplace. Furthermore, users will be able to link their character IPs with blockchain games serviced by PlayDapp, allowing them to enjoy their IPs as ‘multi-usable IPs.’

Kim Kyung-dong, Vice President of IPX, stated, “Through the prior announcement of FRENZ’s launch, we declared the IP 3.0 era where anyone can create, own, and share ‘character IPs,’ aiming to expand a user-participation-based IP ecosystem. With this strategic business agreement with PlayDapp, we will expand the scope of activities by NFT-izing user-created IPs and linking them to blockchain games, thereby establishing a new ‘digital IP entertainment business’ model.”

Jung Sang-won, Head of Business at PlayDapp, said, “We are pleased to create a new user-centered digital IP ecosystem together with IPX’s ‘FRENZ’ platform, based on the blockchain expertise we have accumulated over the past four and a half years. Leveraging multifaceted collaboration and synergy with IPX, a globally influential digital IP platform specialist, we will also accelerate the popularization of NFTs.”

Meanwhile, IPX plans to expand its partnership with PlayDapp, which is collaborating with various metaverse companies including virtual real estate platforms and social entertainment, enabling users to have diverse experiences in the digital world with the IPs they create through the linkage with ‘FRENZ.’

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