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 Web3-powered global expansion strategy.
This collaboration between Daehong and Aptos marks the beginning of the development of a Web3 center for Lotte, a multinational conglomerate corporation in South Korea that oversees approximately 90 business units. In a statement shared with Cointelegraph, Daehong announced its plans to introduce loyalty programs, NFT-based profile picture projects, and entertainment, among other initiatives, within Lotte Group’s Web3 center.
Daehong has also laid the groundwork for future nonfungible token projects and use cases for other subsidiaries of Lotte Group. The upcoming Web3 initiatives will include loyalty programs aimed at enhancing fan engagement and new payment services that facilitate collectibles preservation and eliminate counterfeit tickets.
Furthermore, Daehong aims to increase the value of Web3 projects through global expansion, starting with a collaboration between NFT and digital collectible 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 via the Aptos mainnet.
Users will have the ability to use 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 and focuses on creating valuable usability. The ecosystem 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. It currently has a market capitalization of $3.7 billion.
In related news, the Aptos token saw an 11.6% increase after the announcement of a partnership with Microsoft to combine AI with blockchain technology.
Last year, Aptos experienced a 900% growth in its user base after partnering with Indian social media platform Chingari. The app had previously been powered by Solana but switched to Aptos in search of an improved user experience following temporary network outages on Solana’s platform.
The integration with Aptos has allowed Chingari to offer instant on-chain features, such as virtual gifts, leading to a surge in new users in recent weeks.
In other news, the owner of the seven-trait CryptoPunk Seedphrase has partnered with Sotheby’s, a renowned auction house, in the world of NFT collecting.