Samsung's Cheil Worldwide First to Enter Korean NFT Market
On March 21, 2022, the DFC DAO shared a tweet regarding Cheil Worldwide's entry into the NFT world.
Cheil Worldwide Launches Into Korean NFT Space
The Samsung Group’s affiliated corporation, Cheil Worldwide has decided to step into the NFT space (non-fungible token) by issuing NFTs and launching a marketplace to trade the same NFTs as well.
In addition to the abundant human resources one needs to enter the NFT marketplace, Cheil Worldwide also boasts of the experience it has in its kitty. Cheil is known to have been in charge of operations of the online shopping mall, called Third Planning.
Alongside that, Cheil Worldwide has begun hiring personnel for the development of NFT or Blockchain software. As per a report by the marketing agency, it required a candidate that has the ability to work on blockchain-based design and development, issuance of NFTs, blockchain mainnet, and launching a marketplace for auctions.
Future of Cheil Worldwide
The objective of Cheil Worldwide is the expansion of its digital business in the present year. The expansion includes the business of NFT and the production of metaverse content. Presently, Cheil has been planning ways to flourish the country’s entertainment industry.
Thus, the corporation has been promoting intellectual property from Korean drama series that include music, events, exhibitions, games turned into NFTs in the marketplace.
On March 17, 2022, Cheil Worldwide CEO Yoo Jeong-Geun spoke of its marketing agency in a shareholder's meeting,
“As marketing channels like metaverse and live commerce have diversified due to the recent pandemic, the importance of tech-based content has greatly increased, and advertisers. They are concentrating their marketing on channels with practical results are continuously demanding to strengthen their efficiency.”
NFT Marketplace Observes Rapid Expansion
Inspired by its parent company, the Samsung subsidiary has been pushing for NFT adoption as well. As per a report, 80 percent of Asia which includes Central, Southern, and Eastern account for roughly 37 percent of global traffic to OpenSea.