Lotte Partners With Polygon For Global NFT Drive
Lotte Group, South Korea’s fifth-largest conglomerate with operations in manufacturing, hotels, and e-commerce, plans to expand its non-fungible token (NFT) business into the global market through a partnership with the Polygon blockchain, according to Daehong Communications, Lotte’s marketing and NFT hub.
The collaboration will begin with rebranding BellyGom NFTs, or Lotte Homeshopping’s profile picture (PFP) digital collection centred on the same-named pink bear character.
BellyGom NFTs, which were first minted on the Klaytn network in August 2022, provide holders with benefits related to Lotte’s products and services, such as hotel vouchers or shopping discount coupons.
The rebranded collection will be known as “BellyGom NFT Season 2,” according to a press release from Daehong. According to a Daehong spokesperson, the company is still working on the project and has not set a release date for the collection.
According to Cryptoslam.io data, Polygon is the third largest blockchain in NFT sales over the last 30 days, with a 260.33% increase to US$36.5 million. The Polygon platform works with Ethereum, the second-largest blockchain, and allows other blockchain networks to connect and grow.
Polygon has formed strategic alliances with global brands such as Starbucks, Adidas, and Prada.
According to April 2022 figures from South Korea’s Fair Trade Commission, Lotte Group has assets worth more than 121 trillion Korean won.
(With inputs from Shikha Singh)
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