On Monday, Lotte Group’s marketing and NFT hub Daehong Communications said that the company, the fifth-largest conglomerate in South Korea with activities in manufacturing, hotels, and e-commerce, planned to extend its NFT business into the worldwide market via cooperation with the Polygon blockchain.
The relationship will begin with the rebranding of BellyGom NFTs, or Lotte Homeshopping’s digital profile picture (PFP) collection focused on the same-named pink bear figure.
BellyGom NFTs, which were issued for the first time on the Klaytn network in August 2022, provide holders with perks relating to Lotte’s products and services, such as hotel vouchers and retail discounts.
The renamed collection will be known as “BellyGom NFT Season 2,” according to a press statement from Daehong. A spokeswoman for Daehong said that the firm is currently working on the project and that no date has been set for the publication of the collection.
“Polygon and Daehong are [now] technical partners and counterparties that give marketing help as required,” a Polygon spokesman said to Forkast in an e-mail. “The Polygon Foundation will not manage the actual running of the [BellyGom] NFT project, but current NFTs will be moved to Polygon.”
According to statistics from Cryptoslam.io, Polygon is the third biggest blockchain in terms of NFT sales over the last 30 days, with an increase of 260.33% to $36.5 million over time. The Polygon platform is compatible with Ethereum, the second-largest blockchain, and permits the connection and expansion of additional blockchain networks.
Starbucks, Adidas, and Prada are among the worldwide companies with whom Polygon has formed relationships.
The Fair Trade Commission of South Korea reported in April 2022 that Lotte Group’s assets exceed 121 trillion Korean won (about $92.3 billion).
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