South Korea’s Lotte Group collaborates with Polygon on global NFT development

South Korea’s Lotte Group collaborates with Polygon on global NFT development

Lotte Group, South Korea’s fifth-largest company with holdings in manufacturing, hotels, and e-commerce, plans to expand its non-fungible token (NFT) business global through a cooperation with the Polygon blockchain. Daehong Communications, Lotte’s marketing and NFT hub, stated this on Monday.

BellyGom NFTs, or Lotte Homeshopping’s profile picture (PFP) digital collection centered on the same-named pink bear figure, will be promoted as the partnership’s debut initiative.

BellyGom NFT holders benefit

Holders of BellyGom NFTs, which were first issued on the Klaytn network in August 2022, obtain benefits related to Lotte’s goods and services, such as hotel discounts or retail coupons.

The new line will be called as “BellyGom NFT Season 2,” according to a press release from Daehong. The company is currently working on the idea, according to a Daehong spokesman, and no release date for the collection has been determined.

A Polygon official said that “Polygon and Daehong are [now] technical partners and counterparties that supply marketing aid as needed.” The Polygon Foundation will not supervise the day-to-day activities of the [BellyGom] NFT project, but existing NFTs will be migrated to Polygon.

Based on Cryptoslam.io data, Polygon is the third-largest blockchain in terms of NFT sales during the preceding 30 days, increasing 260.33% to US$36.5 million. The Polygon platform connects and grows other blockchain networks and is interoperable with Ethereum, the second-largest blockchain.

Polygon has relationships with well-known international brands such as Starbucks, Adidas, and Prada.

As shown in data from South Korea’s Fair Trade Commission dated April 2022, the Lotte Group has assets of more than 121 trillion Korean won (US$92.3 billion).

Content Source: forkast.news

Cover Image Source: forkast.news

The post South Korea’s Lotte Group collaborates with Polygon on global NFT development appeared first on NFT News Pro.



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