- An open blockchain platform, Klaytn, developed by the internet behemoth Kakao Corp, has agreed upon five core partnerships to chase its strategies for global expansion.
- Growth is being expected by the crypto investors in the metaverse and gaming, headlined by Facebook’s title changed to Meta.
- The blockchain Klaytn launched back in 2019, is an official partner in the CBDC (Central Bank Digital Currency) simulation project of the Korean Central Bank.
The Prominent Partnerships
Five partnerships were announced by Klaytn, a blockchain developed by the Internet mammoth Kakao, to push the strategies to become the worldwide blockchain standard for the escalating competition in the spaces of metaverse and gaming in 2022 while chasing constant amalgamation with the DeFi ecosystem.
The partnership includes F10, a fintech accelerator, Animal Concerts (an entertainment group based in the USA), East NFT (an NFT marketplace), Innovation Factory (based in Indonesia), and GMO Group(a Japanese Technology Giant).
Klaytn was launched back in 2019. Since then, the blockchain has been the most dominant one in Korea, having secured the Korean Central Bank’s Central Bank Digital Currency Program. Integration has also been done by Klaytn with the super app KakaoTalk through its crypto wallet Klip, and the nation’s 45 Million users of KakaoTalk have access to it.
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The five partnerships have been signed by Klaytn since its global release for the following objectives.
- Use cases of the blockchain will be explored by GMO Group on Klaytn, involving a stablecoin whose value will be pegged to JPY.
- Applications based on the blockchain will be explored by Innovative Factory, involving trackability of the supply chain, solutions for asset management, and utilization of NFTs in the world of entertainment and gaming.
- Worldwide LGBTQ cryptocurrency economy will be harnessed by East NFT, with Y series-based NFT content and the make the horizon wider for collaborating with the globe’s most significant partners in the entertainment, music, and art space.
- NFTs will be minted for A-list personalities by the Animal Concerts, beginning with an NFT bidding for a famous name artiste, in the first quarter of the year.
- The incubation project will be created by F10 for new blockchain ventures in Singapore.
As per the head of global adoption of Klaytn, David Shin, intense momentum has been generated over the previous three months, and are in an excellent position to ride the wave of metaverse this year. These strategic partnerships in Singapore, the USA, Thailand, Indonesia, and Japan, are the key elements of the global expansion roadmap. Also, more top gaming organization partnerships are in the queue.
Klaytn Foundation is an NPO, which was set up for escalating the worldwide adoption, as well as the maturity of the ecosystem on Klaytn. A total of $500 Million Klaytn Growth Fund is handled by Klaytn and operates along with Krust, Kakao’s holding company for ventures operating worldwide.