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ELYSIA and Galaxia Metaverse signs MOU to develop real estate platform

On October 7, Galaxia Metaverse, a subsidiary of Hyosung Group, which is one of the largest businesses in South Korea, and ELYSIA, a blockchain project that specialises in real estate tokenization and securitization, signed a cooperation agreement to collaborate on developing blockchain-based real estate platforms for the Korean market. 

As a result of this partnership, Galaxia Metaverse has agreed to support sales by registering RWA (Real-World Asset) provided by ELYSIA through the NFT marketplace MetaGalaxia, and ELYSIA has agreed to provide RWA with transparency and proof of guarantee of data verification and stake distribution on the blockchain. Both of these commitments will be fulfilled by ELYSIA.

The two businesses have reached an agreement to pool their resources and knowledge in the areas of product design and marketing in order to make it possible for RWA to be sold securely inside the system. In the future, the ELYSIA team will keep working toward the goal of expanding its company via the formation of a variety of partnerships.

ELYSIA is a project that aims to tokenize assets in the real world. It is a system that transforms real-world assets into RWA so that they may be used on the blockchain. RWA that are generated in ELYSIA can be utilised in ELYFI, which is another service that ELYSIA offers. The DeFi service provided by ELYSIA is known as ELYFI, and it is based on real-world assets. In ELYFI, real-world asset owners have the option of either selling their RWA or taking out a loan using their RWA as collateral.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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