Klaytn banking on global LGBTQ crypto economy with EAST NFT
Public blockchain platform Klaytn is banking on the pink crypto economy as part of its global expansion plans. Together with its strategic partner, Asian NFT marketplace EAST NFT, the initiative will begin by minting non-fungible tokens (NFTs) from popular Y Series television shows, and eventually extend to other NFT use cases within the global art, music, and entertainment space.
EAST NFT is a joint venture between two prominent Thai conglomerates–Fico Corporation and Thoresen Thai Agencies (TTA). Leveraging its connections with Thai-based Y Series content production houses, EAST NFT will first tokenize media content from popular TV show TharnType (Seasons 1 and 2). These include video clips of popular scenes, behind-the-scenes footage and pictures, and potentially private collections from the actors of the show, Mew Suppasit and Gulf Kanawut.
The NFTs will be minted on Klaytn, a blockchain platform developed by internet giant Kakao Corp. Since its launch in 2019, Klaytn has secured success domestically in South Korea and is now expanding globally from its international base in Singapore. Its mandate is to be the blockchain of choice for gaming and metaverse businesses by 2022.
“We see the pink economy as a huge untapped market that is ready for the metaverse. With EAST NFT, we expect to leverage the global demand for LGBTQ content to bring the community onboard to the internet of the future,” says David Shin, head of global adoption at Klaytn Foundation.
“We bring unique, captivating content to the world of NFTs and relevance to the global audience. With Klaytn as our strategic partner, we are confident that this will be a first of many great collaborations to come”, says Chalermchai Mahagitsiri, Chairman of EAST NFT.
“Ultimately content is king and the LGBTQ content is ripe for the metaverse. With their world-renowned stars and their strong fanbase, the NFT collections are sure to resonate with this global community”, adds Sithi Srichawla, CEO of EAST NFT.
About Klaytn
Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is now undergoing global business expansion from its international base in Singapore.
These business expansion activities are supported by the US$500m Klaytn Growth Fund, which aims to grow the ecosystem of companies built on Klaytn. The fund is managed and disbursed by Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.
About EAST NFT
EAST NFT is an Asian NFT marketplace for the best curated content from Thailand, Korea, Japan, India, Malaysia, Myanmar, Vietnam, Australia and more. The platform provides seamless buying experience, content engagement, and great collections spanning art, music, sports, entertainment, collectibles, and memorabilia.
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