Currently, NFT has gained billions of users and its space is growing much wider day-by-day. The market witnesses new NFT every now and then, its development is huge in comparison to last year. Many popular figures and well-known entities have been involved in NFTs, which created an impact that NFT might be the future of the digital world.
On July 23, KFC Korea announced that it has signed an MOU with the cross-chain non-fungible token (NFT) developer, TruimphX. The TruimphX marketplace signs a memorandum of understanding (MOU) with KFC Korea for implementing NFT technology into business for branding.
Kentucky Fried Chicken has come up with a plan to expand its network by integrating blockchain and NFT technologies. According to the MOU, KFC intends to add value to existing customers via issuing NFTs based on images, videos, graphics, and various digital formats to KFC’s brand contents.
TriumphX is a decentralized exchange that exists as NFTs for the trading of in-game items. The two parties hope to recreate user-familiar content while also improving KFC’s brand by introducing new NFT content. Moreover, TriumphX has already partnered with many entertainment firms recently.
NFTs Craze in South Korea
Non-fungible token (NFT) has taken its fastest route in global digital art from the Beeple’s digital artwork. Assuming this as a start, many young artists shook South Korea with their interest in NFT. Besides, South Korea has never missed out on its craziness for NFTs.
According to Korea Times, the burgeoning K-pop industry seeks to build-up NFT upon artists to connect with fans. In addition, the detailed origins of Korean writing scripts will be sold as NFTs.
Significantly, NFTs growth is flawless and it can be seen through one prominent factor. NFT sales in the first half of this year are around $2.5B, whereas the sale for the same period in 2020 is $13.7M. This itself exhibits a remarkable difference in the growth of the NFT market.
Despite the fact that the South Korean digital asset industry is facing more regulation issues, the crypto and NFT market is still experiencing the warmth of popularity.
