OpenSea and Kakao’s Klaytn collaborate to Expand NFT Across Asia

• Blockchain Council
• September 07, 2022

The marketplace for non-fungible tokens (NFTs) OpenSea and the South Korean-based Klaytn Foundation of the metaverse blockchain ecosystem have partnered to invest in the Asian NFT ecosystem.

The partnership was unveiled at NFT.NYC, is the first of its type and is intended to hasten the uptake and expansion of NFTs throughout Asia, as per Klaytn.

The fundamental components of the metaverse in Web3 are NFTs, which are distinct (non-fungible) digital assets that are individually identifiable and traceable. The technology aims to make it possible for people to really own digital assets, such as user-generated content that is disseminated in the metaverse or even digital representations of real-world physical goods.

According to Klaytn, the alliance would expand the NFT ecosystem, fortify relationships, and raise awareness of Asian NFT initiatives around the globe through conference partnerships, ecosystem awards, and other activities.

In order to realise our goal of creating a blockchain for the creative economy, gamefi, and the metaverse, we are thrilled to work with OpenSea on this crucial stage. The expansion of the Klaytn ecosystem throughout Asia is something we hope to encourage through these cooperation projects, according to David Shin, Head of Global Adoption at the Klaytn Foundation.

Up to this point, Klaytn has established reliable relationships with companies in Asia, including the Singapore-based Altava Group, the Thailand-based East NFT, the Japan-based Soramitsu, and the China-based Blockchain-based Service Network (BSN), to mention a few.

The non-profit Klaytn Foundation was created to hasten the acceptance of Klaytn worldwide and the development of its ecosystem. The foundation works with Krust, the parent company for all of digital juggernaut Kakao Corp.’s international projects, and administers the $500 million Klaytn Growth Fund.

On subsequent dates, further information about the various activities will be made available via Klaytn’s official channels. Projects and developers have access to the Klaytn Growth Fund (KGF), developer resources, and an all-encompassing metaverse support package. By enlisting strategic partners to supply architecture and other support services, Klaytn is building this support bundle.

The most popular peer-to-peer NFT marketplace in the world is called OpenSea. Its goal is to support the direct ownership and shaping of connections by the world’s artists, collectors, and collaborators.

The company is creating the most dependable and inclusive NFT marketplace in the world with the finest variety, making it easy to mint, buy, and sell NFTs. It also provides producers and collectors of all types with an unrivaled assortment and multi-chain possibilities.

The executive team of OpenSea, which has its headquarters in New York, includes alumni from Stanford, Berkeley, Google, Palantir, Lyft, and Uber. A16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital are a few of the investors.

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