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Future Crypto NFTs Meta, How NFT Finance accelerates mass adoption of NFTs


As some of East Asia's biggest tech companies delve deeper into the world of crypto, Japanese and South Korean mega-companies are eyeing the Metaverse, non-fungible tokens (NFTs), Web3 and Blockchain business expansions. South Korean telecommunications and Chaebol business giant SK, which is currently working on launching a cryptocurrency that will be compatible with a wide range of the group's services, says it will launch a Metaverse product this year.

According to Asia Kyungje, SK has made an undisclosed "equity investment" in Morph Interactive, a company it has partnered with since 2021 as it seeks to accelerate the introduction of new layers of functionality for its Ifland Metaverse platform. .SK, which has captured more than a third of the lucrative South Korean mobile carrier and IP space, says it wants to "build a crypto economy" that is both "gamified" and has customizable avatars that use NFTs. also uses. SK wants the project to be operational before the end of the year – a similar timeline is outlined for its subsidiary SK Square, which is working on a token launch.

Morph, which specializes in 3-D design for the Metaverse space, was quoted as explaining that it is working to transform Ifland into "a communication tool that is actively used in the corporate business environment". as well as the "daily life of ordinary "users".

South Korean search engine behemoth Naver, which last month invested in several Metaverse-themed startups through its own Naver Z Metaverse arm, is also the creator of chat app giant Line. Although the app has had limited success in South Korea, it has become the largest communication platform in Japan. In Japan, Line has launched a crypto exchange, as well as several other crypto-related initiatives. Its token is listed on several domestic crypto trading platforms.

And the firm now wants to repeat this success with its Line NFT trading arm, which, according to the official announcement, launched this week with 40,000 NFT offerings. The project has already seen the firm collaborating with Japanese entertainment giant Yoshimoto Kogyo Holdings to produce exclusive NFT videos called Yoshimoto NFT Theatre. It has also struck a deal that will see it release an NFT inspired by the anime series Mobile Police Petlabor.

The firm said more NFT items will be added later, and that its NFTs can be stored in wallets generated by its Line BitMEX Japanese crypto exchange using its Link Coin or a payment gateway for its Line Pay e-payment platform .Also in Japan, gaming giant and toymaker Namco Bandai is set to invest some USD 24m in Web3, metaverse and blockchain projects. CoinPost reported that the firm, which owns a range of lucrative intellectual property titles, would like to spread its investments over a span of three years.

Namco Bandai is also trying to ensure that its investments are diversified, and will range from pre-seed stage equity injections to late-stage funding drives as it looks to expand its metaverse presence.

- How NFT Finance Accelerates NFT Mass Adoption

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