Cheil Worldwide, a marketing agency that is part of the Samsung Group conglomerate, has announced its intention to be the first company to enter the NFT market in Korea.
South Korean news outlet ChozunBiz reports that the ad agency plans not only to issue NFTs, but also to launch a marketplace for trading them.
The marketing agency is already recruiting blockchain developers to build the platform, according to ChosunBiz.
Cheil also plans to partner with major entertainment companies in the country, such as Studio Dragons.
Cheil Worldwide will focus on expanding its digital business in 2022, according to CEO and President Jung Geun Yoo.
The Samsung subsidiary is following in the footsteps of its parent company. Earlier this year, the company introduced a line of smart TVs that support NFT viewing and trading.
According to a report by Chainalysis, the regions of Central, South and East Asia account for about 37% of global traffic on the OpenSea NFT marketplace.
According to some analysts, Asian interest in non-fungible tokens will only grow. Yahuda Petsher, NFT specialist at CryptoSlam, expects NFT sales on the continent to increase by more than 100 times.