T Scientific Forms Equity Alliance with OGQ to Target NFT Content Market

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[Asia Economy Reporter Jang Hyowon] T Scientific (CEO Kim Sangwoo) announced on the 24th that it has decided to make a strategic investment in the global content platform "OGQ," in which Naver and AfreecaTV are major shareholders.

The investment amount is approximately 35 billion KRW, participating in OGQ's paid-in capital increase to secure the position of the third largest shareholder.

OGQ boasts 17 million social creators from 191 countries and 2.8 billion content downloads. It features a copyright verification process that allows creators to buy and sell images, videos, fonts, stickers, music tracks, as well as 3D content used in metaverse services.

In the second half of 2021, OGQ completed a Series B investment worth 65 billion KRW, receiving a corporate valuation exceeding 200 billion KRW from investors including Naver, AfreecaTV, and YG Investment.

The investment background highlights the explosive growth potential of copyrighted content. OGQ, targeting the global market, is expected to expand its blockchain technology and scalability into new markets such as IP content, commerce distribution, and NFTs.

With this investment decision, T Scientific plans to leverage Naver OGQ Market and its existing mobile coupon service infrastructure to promote various collaborations in new blockchain-based business areas, including digital asset-based NFT content coupon distribution and NFT marketplaces.

A company representative stated, "We made this investment to highly evaluate OGQ's growth potential and to further solidify strategic cooperation. Starting with this, we have clarified our goal to enter the blockchain and virtual asset industry sectors where synergy can be created through M&A strategies."

Meanwhile, on January 27, T Scientific added related business objectives such as blockchain-based encrypted asset trading, NFT sales business, virtual currency exchange business, and virtual reality services through an extraordinary general meeting of shareholders.

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