Lotte Cultureworks and Dexter Begin Creating Differentiated NFTs

Agreement on NFT Production and Distribution Using IP "A New Revenue Generation Path"

On the 7th, Lotte Cultureworks and Dexter Studios announced that they signed a business agreement on the 4th to produce and distribute NFTs using content intellectual property (IP). Lotte Cultureworks will provide its content library, and Dexter will produce and distribute the NFTs. Dexter is a comprehensive content company that completes everything from content planning to filming, production, and post-production through a 'one-stop system.' They have produced numerous hit works including the "Along with the Gods" series, "Baekdusan," and "Mogadishu." Recently, they have expanded into new metaverse-based businesses such as virtual production and immersive content. Kim Wook and Kang Jong-ik, representatives of Dexter, said, "By combining Lotte Cultureworks' solid IP with our technological capabilities, we can plan and produce NFTs of higher quality. We hope this collaboration will be an opportunity to increase the utilization of content IP and open new avenues for revenue generation." Choi Byung-hwan, CEO of Lotte Cultureworks, expressed confidence, saying, "We are focusing on the NFT business as a future industry capable of creating value, and we will present results that are differentiated from existing movie NFT content."

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