Kakao Enterprise Provides AI and Cloud Technology Support to Treasure Labs

[Asia Economy Reporter Seungjin Lee] Kakao Enterprise announced on the 21st that it has formed a partnership with Treasure Labs, a multi-chain based NFT and metaverse specialized company, to establish new businesses in non-fungible tokens (NFT) and the metaverse.

Treasure Labs is the first-generation NFT company in Korea that recorded a sell-out by issuing collectible art NFTs for the first time domestically. Recently, it changed its name from Treasures Club to Treasure Labs and has been actively pursuing global expansion targeting the North American and European markets.

Kakao Enterprise plans to build a competitive NFT ecosystem together with Treasure Labs to develop new services and new businesses and expand them into sustainable metaverse services. The two companies will mutually cooperate to develop the technical infrastructure and platform necessary for NFT service development and operation, including NFT issuance and management, data storage, and certification, and will jointly promote NFT businesses linked to physical products.

Dongwoo Lee, Senior Vice President of Kakao Enterprise, said, “We have formed a meaningful cooperation with Treasure Labs, which has the longest experience and know-how in the domestic collectible art NFT industry, to create a competitive NFT ecosystem,” adding, “Based on Kakao Enterprise’s AI and Kakao i Cloud, we plan to invest heavily so that various companies with good ideas can become members of the NFT ecosystem.”

Meanwhile, Kakao Enterprise officially joined the NFT and metaverse ecosystem in March by signing a business agreement with the NFT project team Clay Ape Club. Since then, it has announced collaboration with Lollyzos Company, which operates Oroliday, and is striving to build and advance NFTaaS (NFT as a Service) based on Kakao i Cloud.

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