"Enhancing NFT Business Capabilities" Cheil Worldwide Signs MOU with NFT Exchange 'Saipully'
Secured Additional Business Capabilities in NFT Sector Following MOU with SMAS in June
Cypherly Launched in July at Dunamu's Blockchain Subsidiary Lambda256
Planned Collaboration on Brand NFT Planning, Production, Issuance, Operation, and Marketing Based on Brand NFTs
[Asia Economy Reporter Yuri Kim] Cheil Worldwide announced on the 25th that it has signed a memorandum of understanding (MOU) for a business partnership on brand NFT projects with Cypherly, an overseas non-fungible token (NFT) marketplace operated by a subsidiary of Dunamu. This is part of expanding its NFT business capabilities following a business agreement with the NFT artist group 'Smas' in June.
Cypherly is a global NFT marketplace launched last month by Lambda256, Dunamu's blockchain technology specialized subsidiary. Following the establishment of the domestic NFT marketplace 'UpbitNFT' last year, Dunamu and Lambda256 launched the overseas marketplace Cypherly this year to target the global NFT market. Lambda256 has signed an NFT licensing contract with NBCUniversal, a global media entertainment company, for the animation 'Voltron.' Additionally, it is expanding its business by signing agreements with webtoon production company YLAB and fashion tech company G-Motion.
Based on this business agreement, Cheil Worldwide will plan and produce NFTs for advertiser brands, while Cypherly will be responsible for developing and operating the NFTs tailored to its own platform. The two companies plan to collaborate to introduce new types of NFT products and promote various marketing and intellectual property (IP) businesses based on them.
Since Cypherly is a global marketplace centered in the United States, Cheil Worldwide plans to involve not only its headquarters but also its overseas subsidiaries and affiliates in the business partnership. Currently, Cheil Worldwide operates subsidiaries in 45 countries and owns 9 overseas affiliates. The company expects that collaboration with Cypherly will be possible in various ways when conducting NFT projects with local overseas companies.
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A Cheil Worldwide official said, "We expect synergy through collaboration between Cypherly, which is targeting overseas markets based on differentiated blockchain technology, and Cheil Worldwide's global network spanning the world," adding, "We plan to continuously enhance our NFT business capabilities through partnerships with specialized companies in the NFT field like Cypherly."
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