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- Hyundai Motor Group further expands in the world of Non-Fungible Tokens (NFTs) as its credit card arm partners with a tech startup.
- Hyundai card, venturing with Like Lion is planning on launching a Non-Fungible Token (NFT) marketplace in the year’s second half.
NFTs, as a concept has grown by leaps and bounds as more and more entities, are getting associated with them. \
A Marketplace To Be Added To The NFTs Sphere
Hyundai Motor Group’s credit card arm, Hyundai card, has recently announced a joint venture with Like Lion, a South Korean tech startup.
This collaboration is focused on rolling out a Non-Fungible Token (NFT) marketplace in the second half of 2022. The joint venture, Coined Modern Lion would mint Non-Fungible Tokens (NFTs) based on the Hyundai Card’s assets.
The tech startup Like Lion is already all-in when it comes to projects based on Blockchain technology. It has various blockchain-led products under it. For instance, MetaKongz, the NFT profile picture collection, and Syltare, the play-to-earn trading card.
In the year 2021, Hyundai Card was South Korea’s fourth-largest credit card company with respect to an operating income of approximately $324 Million.
Furthermore, in April 2022, Hyundai Motors and Like Lion also launched a limited MetaKongz NFT collection on the significant NFT marketplace, OpenSea.
Earlier in May, the Hyundai Motor Group launched an NFT collection with the theme Metamobility, which is a conceptual universe where an individual can move freely beyond time and space.
NFTs are basically the unique cryptographic tokens acting like collectibles or trading cards. They live on the underlying technology of cryptocurrencies, and blockchain, each NFT having potential astronomical value. The concept of Non-Fungible Tokens (NFTs) has opened a whole new path for digital artists to claim ownership of their art. Apart from that, they have also proved to be a way to empower women, transgenders, etc.
This step by Hyundai would only contribute to the further growth of NFTs in the industry. More is to look forward to this yet-to-be-launched new NFT marketplace.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
