Lotte Group, one of the largest South Korean conglomerates, is teaming up with Polygon to enter the global NFT market. This partnership was announced by the brands in a press release and on Twitter.
Daehong Communications, an advertising agency under Lotte Group, has entered into a collaboration agreement with blockchain platform Polygon Labs. As part of the partnership, the two companies will work together to promote Lotte Group's NFT projects to both Korean and international audiences.
Source: Twitter
It is expected that the collaboration with the Polygon Foundation will help Daehong Communications develop an original business model for issuing non-fungible tokens and become a competitive player in the global Web3 space. Last year, the agency took the first steps towards this goal by investing in blockchain solutions provider Blocko and collaborating with local businesses for the Lotte NFT project.
The Bellygom NFT collection will serve as an experimental platform for Daehong Communications and Polygon. The collection is a joint project between Lotte Home Shopping and FingerVerse, a subsidiary of FSN, and includes 10,000 avatars. The owners of these avatars will be entitled to privileges from Lotte Group companies for shopping, hotel stays, exhibition visits, cinema trips, and more.
Source: OpenSea
Partners unveiled the roadmap for the rebranding of the collection launched on the Klaytn network in 2022 at an NFT holders' party at Jamsil Lotte World on February 25. The project is set to be called BellyGom NFT Season 2 and will offer users an enhanced experience with Polygon.
In recent years, the blockchain platform has partnered with numerous globally recognized brands, including Starbucks, Warner Music, Reddit, Siemens, and Alethea.
About Lotte Group
Lotte Group is a leading conglomerate in South Korea that consists of over 60 companies in various industries. The corporation began as a confectionery factory in the 1960s and has since evolved into a group of retail, petrochemical, development, food production, and hotel businesses.
Lotte Group aims to be a leader not only in the physical world but also in the Web3 space in South Korea. The corporation has previously released NFT collections, held exhibitions featuring digital art objects, and even launched its own NFT marketplace called NFT Shop. The corporation plans to launch a metaverse in the future.
