BlocksInform
In spite of the blockchain klaytn being developed in south korea and being only one of three platforms with native support on opensea, trade volumes there lagged behind polygon and ether-based markets..
Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive with Korbit and Upbit, two other domestic Korean exchanges. Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive with Korbit and Upbit, two further korean exchanges.
“An NFT marketplace will be important in promoting blockchain-based content, which will become a driving force in the future.”
There is no confirmation yet of the identity of the content creators or artists who have agreed to issue works in the form of bithumb.
Several media outlets in South Korea have reported that the NFT marketplace is being developed in collaboration with tech giant LG CNS, but an official from Bithumb said on Jan. An official of bithumb said on jan.
17 that "it is impossible to confirm if it is lg cns and if it is just them or a group of businesses." The launch of a NFT market would enable Bithumb to remain competitive. Bithumb is currently comfortably in 2nd place among Korean exchanges classified by trading volume.
Upbit launched its own NFT marketplace in Nov. 2021 with some fanfare as it was able to secure several K-pop groups including BTS to agree to commit exclusive NFT content.
The Korbit crypto exchange, which is owned by gaming giant Nexon, was South Korea’s first exchange to launch a NFT marketplace in June 2021. The Korbit Crypto Exchange, owned by gaming giant Nexon, was South Korea's first trade to launch an NFT market in June 2021.
The Korbit Crypto Exchange, owned by game giant Nexon, was the first exchange from South Korea to launch an NFT market in June 2021. Korbit is Korea's fourth largest crypto exchange with approximately $7 million in 24-hour exchange volume.
While global NFT traders tend to mint and trade on-chain on OpenSea, Korean traders tend to remain on centralized platforms. An Indonesian 22-year-old earns $1M by selling NFT selfies on OpenSea.
