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Home / Business / Finance & Economy / S. Korea’s Minting Agency Inks Gold-based
NFT Business Agreement
S. KOREA’S MINTING AGENCY INKS GOLD-BASED NFT BUSINESS AGREEMENT
Posted on October 21, 2022 by Korea Bizwire in Finance & Economy, Most Viewed,
Top News, Virtual Money & NFT with 0 Comments
Employees show off gold bars made by Korea Minting, Security Printing & ID Card
Operating Corp. during a publicity event at a post office in Seoul on May 2,
2019. (Yonhap)
DAEJEON, Oct. 21 (Korea Bizwire) — South Korea’s state-run minting agency said
Thursday that it signed a memorandum of understanding (MOU) with a handful of
domestic companies to carry out a gold-based non-fungible token (NFT) business.
To broaden the online sales channels of high-end gold products, the Korea
Minting and Security Printing Corp. (KOMSCO) joined hands with Raon Whitehat, a
subsidiary of security solution provider RaonSecure Co., and NFT-specialised
artist group SMATh World to carry out a joint project.
Under terms of the MOU, Raon Whitehat will open an NFT exchange in November and
issue the first NFT through a combination with KOMSCO’s gold.
In addition, a merged NFT that features a combination of SMATh World’s digital
artworks and KOMSCO’s gold will be constantly traded through the world’s largest
NFT exchange, OpenSea.
The KOMSCO expects this agreement to contribute to expanding the online sales
channels of high-end gold products from Internet shopping malls to
blockchain-based NFT exchanges.
Kevin Lee (kevinlee@koreabizwire.com)
Tagged
* Gold
* minting agency
* NFT
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