FameEX Hot Topics | Lotte Subsidiary Teams Up with Aptos to Develop Web3 Hub

Daehong Communications, an advertising firm based in South Korea and a subsidiary of Lotte Group, has entered into a strategic partnership with the Aptos Foundation to launch an extensive global expansion initiative fueled by Web3 technology. This collaboration marks the genesis of a Web3 hub tailored specifically for Lotte, a multinational conglomerate overseeing a vast array of businesses, totaling around 90 units. Daehong's plans for Lotte Group's Web3 hub include introducing a range of innovative projects such as loyalty programs, NFT-based profile picture initiatives, and entertainment ventures.

Furthermore, Daehong has laid the groundwork for upcoming non-fungible token (NFT) projects and is exploring potential use cases for other subsidiaries within the Lotte Group. These future Web3 endeavors will include loyalty programs designed to enhance fan engagement, as well as innovative payment services geared towards preserving collectibles and combating counterfeit tickets.

Additionally, Daehong is focused on expanding the reach and impact of Web3 projects on a global scale. This initiative begins with a collaborative effort between NFT and digital collectible projects BellyGom and the South Korean national football B team, Baeho Eleven. As part of this collaboration, certain BellyGom NFTs will be transferred to Aptos, enabling users to receive rewards through the Aptos mainnet. These rewards can then be utilized to purchase goods available on Aptos, with the blockchain also facilitating Baekho Eleven’s official loyalty program during the Qatar Asian Cup.

Aptos is renowned for providing blockchain services with a strong emphasis on usability. The ecosystem has attracted over $400 million in investments from leading investors including a16z, Jump Crypto, Apollo Global, Franklin Templeton, Dragonfly, PayPal Ventures, and Coinbase Ventures, and currently boasts a market capitalization of $3.7 billion.

It is worth noting that Aptos experienced a remarkable 900% surge in its user base last year following its collaboration with the Indian social media platform Chingari. This partnership came after Chingari decided to migrate from Solana to Aptos in search of a more reliable user experience, prompted by Solana's intermittent network outages.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.