[Asia Economy Reporter Jang Hyowon] Galaxia Money Tree, which plans to launch NFT services within this year, is showing strong performance following the news that Binance, the world's largest cryptocurrency exchange, is entering the non-fungible token (NFT) market.
As of 10:09 AM on the 28th, Galaxia Money Tree is trading at 7,130 KRW, up 3.18% compared to the previous trading day.
According to US economic media CNBC on the 27th (local time), Binance will launch an NFT marketplace in June targeting creators and traders of collectibles in music, gaming, sports, and other fields.
According to the company, the Binance NFT marketplace focuses on creators and collectors in visual arts, music, gaming, sports, and related sectors.
Meanwhile, with the NFT craze heating up, including Samsung Next, Samsung Electronics' investment firm, participating as an investor in funding the NFT trading platform company 'SuperRare,' Galaxia Money Tree's recent announcement of blockchain-based new business initiatives appears to have influenced its stock price.
On the 26th, Galaxia Money Tree announced plans to launch NFT services within this year and stated that it will develop blockchain and cryptocurrency core new businesses such as Bitcoin payment and exchange, NFT, and STO.
In the securities industry, there has been a forecast that attention is needed for Galaxia Money Tree's new business integrating blockchain with artworks.
Meanwhile, according to the website 'NonFungible,' which tracks data on NFTs, the total sales volume of NFT tokens surged to over $2 billion (2.227 trillion KRW) in the first quarter.
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