Daehong Communications Teams Up with Aptos Labs for Web3-Powered Global Expansion
Summary:
Daehong Communications, a Lotte Group subsidiary, is partnering with Aptos Labs for global expansion utilizing Web3 technology. Within the Lotte Group's Web3 hub, Daehong plans to introduce NFT-based profile picture projects, loyalty programs, and entertainment initiatives. Future collaborations include joint ventures between NFT & digital collectible projects BellyGom and South Korea's B football team, Baeho Eleven, and the blockchain-based loyalty program during the Qatar Asian Cup. Aptos Labs, currently valued at $3.7 billion, has seen a significant increase in user base after partnering with Indian social media app Chingari.
Daehong Communications, a South Korean marketing company and part of the Lotte Group, is joining forces with Aptos Labs to implement a Web3-centric worldwide growth strategy. This partnership with Aptos signifies the start of developing a Web3 hub for Lotte, an international conglomerate based in South Korea that is responsible for approximately 90 businesses. Daehong disclosed its intentions to launch loyalty schemes, entertainment initiatives, and NFT-based avatar projects within the Web3 hub in a statement given to Cointelegraph. They also detailed plans for future NFT projects and other applications for Lotte Group companies. Prospective Web3 ventures include loyalty schemes aimed at boosting fan engagement, and innovative payment systems to assist in the conservation of collectibles and eradication of fake tickets. Daehong also seeks to grow the reach of Web3 projects globally, starting with joint ventures between NFT and digital collectible projects BellyGom and South Korea's national B football team, Baeho Eleven. In this scheme, some BellyGom NFTs will be transitioned to Aptos, enabling members to earn rewards through the Aptos mainnet. These rewards can then be utilised to purchase items on Aptos. Baekho Eleven's loyalty programme during the Qatar Asian Cup will also be powered by the blockchain. Aptos offers public-facing blockchain services, and puts a strong emphasis on the creation of valuable usability. The platform boasts over $400 million in investment from high-calibre backers such as a16z, Jump Crypto, Apollo Global, Franklin Templeton, Dragonfly, PayPal Ventures, and Coinbase Ventures, and has a current market valuation of $3.7 billion. After aligning with Indian social media app Chingari, Aptos’s user base grew by 900% last year. The app was previously powered by Solana but relocated to Aptos due to Solana's ongoing but temporary network disruption in order to enhance the user experience. In the last few weeks, Chingari's integration with Aptos, according to Sumit Ghosh, co-founder and CEO of Chingari, led to immediate on-chain features like virtual gifts, leading to a significant influx of new users.
Published At
3/6/2024 3:00:00 AM
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