Smart Token Labs bridges to a tokenized future with Klaytn

A seamless bridge between Web2 and Web3 is at the heart of a new, exciting partnership between Smart Token Labs and the Klaytn Foundation. By building a pathway to smart token composability, both sides are set to create a new standard for a tokenized future. The collaboration will see Smart Token Labs introducing TokenScript, a smart token interface, into the Klaytn network. It could lay the infrastructure for the Web3 promise in gaming, NFTs, and the metaverse.

Launched in 2018, TokenScript has already been used to deliver more than 30 smart token projects. It addresses issues with trust, interoperability, security, and interface seen with current token transactions. By fusing token and smart contract logic in a standardized interface, TokenScript will help create a more secure environment in the Klaytn network. It raises the potential of creating a metaverse that is fully portable, completely owned, and controlled by users and developers.

Victor Zhang, CEO of Smart Token Labs, says, “We are delighted to be partnering with Klaytn Foundation to bring our open source technology to the Klaytn network and specifically to the many ecosystem partners and brands that are looking to bridge into Web3 in entertainment, gaming and the metaverse. The Klaytn vision for Web3 is strongly aligned with our own and we’re looking to do great things together via partnerships, collaborations and adoption of TokenScript and AlphaWallet in 2022 and beyond.”

Developers from both sides have already been working to build the infrastructure to support KLAY (Klaytn’s native token), DApp browser, and NFTs. It will set the stage for better user experience in a Web3 future, where tokens represent who you are, what you own, and how you interact.

David Shin, Head of Global Adoption at the Klaytn Foundation, says, “We are looking forward to onboarding Smart Token Labs to build more wallets and tooling on Klaytn’s network. By overcoming core limitations of current ecosystems, this strategic partnership is set to deliver a future of Web3 that is based on security, functionality, and interoperability.”

A Web3 that prioritizes tokens could deliver a hugely improved UX compared to Web2, helping to drive mass adoption. Through the partnership between Smart Token Labs and the Klaytn Foundation, the various promises of Web3 and the metaverse could soon come into full realization.

About Klaytn Foundation

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 $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 Smart Token Labs

Australian blockchain company Smart Token Labs is creating a new standard for a tokenized future. It has built two highly successful open source products, TokenScript and AlphaWallet. Backed by high profile investors like Mark Cuban, Framework Ventures, and, TokenScript has delivered more than 30 smart token projects. AlphaWallet is also a key standout, having established itself as the most forked open source wallet on Ethereum.