Daehong Communications, an advertising firm based in South Korea and a subsidiary of Lotte Group, has joined forces with the Aptos Foundation to embark on a strategic global expansion powered by Web3 technology.
This partnership between Daehong and Aptos marks the beginning of the establishment of a Web3 hub for Lotte, a multinational conglomerate corporation in South Korea that oversees approximately 90 business units. In a statement shared with Cointelegraph, Daehong disclosed its plans to introduce loyalty programs, NFT-based profile picture projects, and entertainment, among other initiatives within Lotte Group’s Web3 hub.
Daehong has also laid the foundation for upcoming nonfungible token projects and use cases for other subsidiaries of Lotte Group. Future Web3 initiatives will include loyalty programs aimed at enhancing fan engagement and new payment services that facilitate the preservation of collectibles and the elimination of counterfeit tickets.
Furthermore, Daehong aims to enhance the value of Web3 projects through global expansion, starting with a collaborative ecosystem between NFT and digital collectible projects BellyGom and South Korean national football B team, Baeho Eleven. In this initiative, some of the BellyGom NFTs will be transferred to Aptos, enabling users to receive rewards from the project via the Aptos mainnet.
Users will have the ability to utilize these rewards to purchase goods available on Aptos. The blockchain will also power Baekho Eleven’s official loyalty program during the Qatar Asian Cup.
Aptos is a blockchain service provider that focuses on creating valuable usability for the public. Currently, it has received over $400 million in investments from top investors such as a16z, Jump Crypto, Apollo Global, Franklin Templeton, Dragonfly, PayPal Ventures, and Coinbase Ventures. Its current market capitalization stands at $3.7 billion.
Last year, Aptos experienced a 900% increase in its user base after partnering with Indian social media platform Chingari. The platform had previously been powered by Solana but migrated to Aptos in search of an enhanced user experience following Solana’s temporary network outages.
Sumit Ghosh, co-founder and CEO of Chingari, stated to Cointelegraph that the integration with Aptos has enabled instant on-chain features like virtual gifts, leading to a surge of new users in recent weeks.
(Source: Cointelegraph)
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