LGU Plus Expands Its Foothold Within the NFT Market

LGU Plus Expands Its Foothold Within the NFT Market

As part of its expansion into the cryptocurrency and blockchain industries, South Korea’s largest telecommunications company, Telecom Giant LGU Plus, will issue a new batch of non-fungible tokens (NFTs) the following month. This marks the company’s continued foray into the non-fungible tokens market.

According to articles published in Money Today and Chosun Ilbo, the company, which is a division of the LG conglomerate, is planning to launch a new line of products featuring its Moono octopus-like cartoon figure. When it was made accessible on the OpenSea platform by means of the Klaytn blockchain, which was developed by Kakao, the original collection, which was released in May, was purchased out in fewer than two seconds.

Moono characters were seen having fun on each day of the week over the first collection’s 200 tokens. The second collection will be significantly greater, with a total of 1,000 tokens being made accessible to participants. The company has stated that they will show Moono office workers and their “changing emotions” throughout the course of the “working week,” and the company has also stated that any Klay (KLAY) tokens acquired from the sale will be donated to charity. The organization will retain 100 of the new NFTs for “promotional purposes,” while the remaining 900 will be put up for sale in two separate auctions on September 5. The first round of sales will take place from seven to nine o’clock in the evening, during which time 300 NFTs will be sold. This will be followed by the final 600 sales, which will take place from ten in the evening until midnight.

Anyone who completes a set will be eligible for a Moono toy, and purchasers of five tokens will also have the opportunity to claim tickets to Legoland theme park.

In addition, LGU+ announced that it will be releasing details of a partnership with the minds behind the popular Kalytn blockchain NFT collections Shy Ghost Squad and Animal Punks in the coming months as part of an effort to grow its NFT-related operations. As a result, Telecom Giant LGU Plus has moved farther into the NFT market, demonstrating that there is potential within the business.

The Klatyn governing council is comprised of representatives from LGU+, LG Electronics, and LG International, the other two LG enterprises.

Previous reports from domestic media outlets suggested that LG, which has been experimenting with a variety of crypto-related solutions for a number of years, may be considering the introduction of its own own cryptocurrency. SK, the parent company of SK Telecom, which is the primary competitor of LGU+, has already said that it will launch a currency through the SK Square subsidiary that it owns before the end of this year.

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