Thursday, May 23, 2024
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Samsung’s Cheil to dive in NFT market to promote intellectual property from K-Drama

The South Korean Non-Fungible Token (NFT) market is set to grow much further. Cheil Worldwide, a marketing agency within the Samsung corporation, has announced its desire to be the first advertising organisation to join the NFT industry.

According to ChozunBiz, a South Korean news outlet, the advertising firm wants to issue  not only NFTs but also to develop a marketplace for trading and minting digital assets.

Cheil is also willing to collaborate with the country’s thriving entertainment industry. It aims at promoting intellectual property from K-Drama, music, performances, exhibitions, and games in its marketplace as NFTs. The collaboration will considerably benefit from an MOU struck with Studio Dragons, one of the country’s trendiest entertainment firms at the moment.

According to ChozunBiz, the marketing agency is already looking for experts with experience in blockchain programming to help build the platform.

Cheil Globally has set a target of increasing its digital business by 2022, as per CEO and President Jeong-geun Yoo. The NFT business and the development of metaverse content are on the agenda for the year.

The company of Samsung admires the footsteps of its parent firm. Samsung has been encouraging the use of NFTs. Later this year, the firm introduced a set of smart TVs that can be used to watch and sell NFTs.

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