South Korean Telecoms Giant LGU+ Moves Deeper into NFT Space

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LGU+, one of South Korea’s largest telecommunications companies, plans to issue a batch of new non-replaceable tokens (NFTs) next month in an effort to further expand into the cryptocurrency and blockchain space.

According to Money Today and the Chosun Ilbo, the company, part of LG’s business empire, plans to launch a new series featuring the octopus-like cartoon character “Moono.” The first series, launched in May, sold out in just two seconds when it was released on the OpenSea platform through the Klaytn blockchain founded by Kakao.

The first series depicted the Muno characters having fun performing every day, and 200 tokens were distributed. The second phase will be even larger, with 1,000 tokens to be issued. The tokens will depict the office workers in Mono and their “mood swings” while they are “at work,” the company said.

In addition, all klay (KLAY) tokens from the sale will be donated to charity. The company will keep 100 new NFTs for “marketing purposes” and sell the remaining 900 new NFTs in two separate sales on September 5. The first sale period will be from 19:00 to 21:00, during which 300 NFTs will be sold, and the last 600 will be sold from 22:00 to 24:00.

In addition, those who purchase five tokens will be able to apply for tickets to the LEGOLAND theme park, and those who complete the set of tokens will be able to apply for a Moono toy.

LGU+ said it will expand its NFT-related business in the coming months and will soon reveal details of its partnerships with Shy Ghost Squad and Animal Punks, the masterminds behind the popular Kalytn blockchain NFT series.

LGU+ is a member of Kratin’s governance committee, along with two other LG companies, LG Electronics and LG International.

As previously reported, it has been noted in the domestic media that LG, which has been piloting cryptocurrency-related solutions for several years, maybe planning to launch its own token. SK, which owns SK Telecom, LGU+’s biggest competitor, has announced that it will launch the coin through its subsidiary SK Square by the end of the year.

》Chinese Version

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