Daehong Communications, an advertising firm based in South Korea and a subsidiary of Lotte Group, has joined forces with Aptos Foundation to embark on a strategic global expansion powered by Web3 technology.
This partnership between Daehong and Aptos signifies 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 an announcement shared with Cointelegraph, Daehong disclosed its plans to introduce various initiatives within Lotte Group’s Web3 hub, including loyalty programs, NFT-based profile picture projects, and entertainment.
Daehong has also laid the groundwork for upcoming nonfungible token projects and use cases for other subsidiaries of Lotte Group. The future Web3 initiatives will consist of loyalty programs aimed at enhancing fan engagement, as well as 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 projects BellyGom and the South Korean national football B team, Baeho Eleven. As part of this initiative, some of the BellyGom NFTs will be transferred to Aptos, allowing users to receive rewards from the project through 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 platform that provides services to the public while focusing on creating valuable usability. The ecosystem has garnered over $400 million in investments from prominent investors such as a16z, Jump Crypto, Apollo Global, Franklin Templeton, Dragonfly, PayPal Ventures, and Coinbase Ventures. Currently, it has a market capitalization of $3.7 billion.
Last year, Aptos experienced a 900% increase in its user base after partnering with Indian social media platform Chingari. The app had previously been powered by Solana but made the switch to Aptos in search of an enhanced user experience following Solana’s intermittent network outages.
According to Sumit Ghosh, co-founder and CEO of Chingari, the integration with Aptos has enabled instant on-chain features, such as virtual gifts, resulting in a surge of new users in recent weeks.
In other news, the owner of the CryptoPunk Seedphrase with seven traits has formed a partnership with Sotheby’s, a renowned auction house, in the world of NFT collecting.