Izmedia Collaborates with Kakao GroundX Using Technology for NFT... "Full-Scale Blockchain Business Based on Klaytn"

[Asia Economy Reporter Hyunseok Yoo] KOSDAQ-listed company Izmedia is advancing a new blockchain business using Kakao GroundX’s self-developed blockchain platform and API (Application Programming Interface).

On the 14th, Izmedia announced that it will collaborate to build an NFT (Non-Fungible Token) platform utilizing the Klaytn-based protocol developed by GroundX (CEO Jaesun Han), Kakao’s blockchain technology subsidiary.

An Izmedia official stated, “We have agreed to build an NFT trading platform using Klaytn, the blockchain platform independently developed by GroundX,” adding, “We expect to solve issues such as high gas fees and transaction speed delays that existed in previous platforms through upgraded new services.”

In March, the company announced its entry into high-growth new businesses by appointing Randy Zuckerberg, the elder sister of Facebook founder Mark Zuckerberg, as an outside director. Randy Zuckerberg is a marketing and communications expert who graduated from Harvard University and has built her career at numerous Silicon Valley companies including Facebook.

Meanwhile, last month Izmedia announced its entry into the NFT business by signing a Memorandum of Understanding (MOU) with Greenbox POS, a Nasdaq-listed company in the United States, for NFT platform development. Subsequently, it also signed a partnership agreement with MetaLab, a UI/UX (User Interface/User Experience) specialized company based in Victoria, Canada, to design the NFT platform.

MetaLab is a company that has designed UI/UX for major companies such as Coinbase, the largest cryptocurrency exchange in the U.S., large blockchain company Dapper Labs, as well as Apple, Google, and Amazon. They plan to cooperate mutually to build the NFT ecosystem and strive to activate NFT trading related to K-content.

An Izmedia official emphasized, “Preparations for the NFT business are progressing as planned,” and added, “We will collaborate with major domestic and international IT companies to present a highly competitive platform.”