FameEX Hot Topics | Lotte Subsidiary Collaborates with Aptos for Web3 Hub Development

South Korean advertising firm Daehong Communications, a subsidiary of Lotte Group, has forged a strategic alliance with the Aptos Foundation to embark on an ambitious Web3-powered global expansion initiative. This collaboration signifies the inception of a Web3 hub tailored for Lotte, a multinational conglomerate overseeing approximately 90 business units. Daehong disclosed plans to introduce various innovative ventures within Lotte Group’s Web3 hub, including loyalty programs, NFT-based profile picture projects, and entertainment ventures.

Moreover, Daehong has laid the groundwork for forthcoming non-fungible token (NFT) projects and envisages implementing use cases for other subsidiaries of Lotte Group. Future Web3 endeavors will encompass loyalty programs aimed at enhancing fan engagement and novel payment services facilitating collectibles preservation and tackling counterfeit tickets.

Furthermore, Daehong aims to augment the value of Web3 projects through global expansion efforts, commencing with an ecosystem collaboration between NFT and digital collectible projects BellyGom and the South Korean national football B team, Baeho Eleven. In this collaboration, some BellyGom NFTs will be transferred to Aptos, enabling users to reap rewards from the project via the Aptos mainnet. These rewards can be utilized to procure goods available on Aptos, with the blockchain also powering Baekho Eleven’s official loyalty program during the Qatar Asian Cup.

Aptos specializes in offering blockchain services to the public, with a keen focus on fostering valuable usability. The ecosystem boasts over $400 million in investments from prominent investors such as a16z, Jump Crypto, Apollo Global, Franklin Templeton, Dragonfly, PayPal Ventures, and Coinbase Ventures, and currently commands a market capitalization of $3.7 billion.

Notably, Aptos witnessed a staggering 900% surge in its user base last year following its partnership with Indian social media platform Chingari. The latter had previously operated on Solana but opted to migrate to Aptos in pursuit of an enhanced user experience, prompted by Solana’s intermittent network outages.

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