Klaytn, the blockchain project of major South Korean tech company Kakao, partnered with the NFT OpenSea marketplace to bring a non-fungible token market to its platform. Klaytn is a smart contract platform developed by Kakao’s blockchain wing Ground X, which will develop its own NFTs and offer them on OpenSea in late June, according to a recent announcement.
NFTs aren’t just for art: As technology matures, will more uses emerge?
The dollar value of NFT transactions has surpassed $ 500 million since the turn of the year, when the technology received renewed attention following a series of high-profile purchases by celebrities. While NFT technology can be applied to a number of use cases, its recent emergence at the forefront of discussion and investment was largely driven by its potential as a digital medium for artists.
OpenSea is one of the fastest growing places for NFT exchange, with its March transaction volume of $ 100 million, marking a 1,150% increase over the January figure of $ 8 million.
Kakao’s Blockchain Project Klaytn Expands NFT Offering to OpenSea Following 800% Quarterly Growth