Kakao GroundX Forms 'NFT Alliance' with Domestic Companies

[Asia Economy Reporter Kang Nahum] GroundX, Kakao's blockchain technology affiliate, announced on the 21st that it has partnered with domestic companies to establish the NFT alliance 'GRID' to popularize non-fungible tokens (NFTs) and revitalize the ecosystem.

The NFT alliance includes over 50 companies such as Kakao affiliates including Kakao Games, Kakao Entertainment, and Kakao Brain, as well as Crust Universe, Colorverse, Another World, Cheil Worldwide, Amorepacific, SK's mySUNI, Lotte Department Store, SBS, Shinhan Bank, Shinhan Card, Shinhan Financial Investment, and Daewoong Pharmaceutical.

By connecting excellent companies from various fields such as distribution, entertainment, marketing, finance, beauty, webtoons, metaverse, NFT markets, blockchain and crypto technology, and F&B, they plan to build collaboration models and promote popularization so that NFT usage can expand in real life through online and offline communities, events, and stores.

To this end, GroundX plans to provide comprehensive support so that companies can efficiently plan, execute, and operate NFT-based services. Additionally, if companies require, they will provide services and infrastructure that enable NFT membership and holder authentication via QR codes through the digital asset wallet 'Klip.'

Yang Ju-il, CEO of GroundX, said, "Many companies are engaging in NFT utilization, but there are often needs for project planning, issuance and operation support through marketplaces, and there have been limitations in integrating into consumers' real-life services. Based on our capabilities, we will serve as a central point to create successful business cases that offer innovative experiences to consumers."

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