Sonid Completes 3 Billion KRW Capital Increase... "Establishing Foundation for NFT Business"

[Asia Economy Reporter Jang Hyowon] SonyD, a KOSDAQ-listed company, announced on the 11th that it has completed all procedures for the payment of a 3 billion KRW paid-in capital increase.

The company stated that since this capital increase was conducted to raise funds for acquiring securities of other corporations, it plans to establish a foundation for an NFT-based financial platform business by expanding its stake in the fintech specialized company Kanak. SonyD previously invested 10 billion KRW to acquire approximately 29% of Kanak's shares.

Earlier this month, SonyD signed a strategic business agreement (MOU) among its subsidiary SonyD Lab, Kanak, and another company. The main objectives include forming a TFT to promote the NFT financial platform business and pursuing multifaceted business cooperation. The company’s strategy for this year is to focus particularly on supplying NFT liquidity through the platform launch within the year. Next year, it plans to expand practical global NFT trading platform services and gradually extend its business areas by integrating fintech services.

Choi Simyeong, CEO of SonyD, said, “The NFT market has recently been continuously activated in the global market, and it is an industry expected to generate linked profits across industries beyond entertainment and culture. Kanak, in which we continue to invest, operates fintech payment as its main business and has been preparing digital services based on NFTs. Taking this funding opportunity, SonyD, SonyD Lab, and Kanak plan to establish a more multifaceted technical cooperation system.”

Through business cooperation among SonyD, SonyD Lab, and Kanak, SonyD plans to promote a systematic NFT-based financial platform project including ▲a dedicated coin for NFT trading ▲development of an NFT collateral loan system ▲linkage with financial institutions.

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