Galaxia Metaverse, First Domestic NFT Platform to Collaborate with SBS Medianet on NFT Business

[Asia Economy Reporter Hyunseok Yoo] Blockchain specialist company Galaxia Metaverse announced on the 17th that it has signed an NFT business cooperation agreement with SBS Medianet, a broadcasting company, becoming the first domestic NFT platform to do so.

The MOU signing also involved sports marketing company Galaxia SM (CEO Banseok Lee). SBS Medianet operates eight integrated channels, including the sports flagship channel SBS Sports, Korea's first golf channel SBS Golf, and various genres such as lifestyle and music.

NFT, which stands for "Non-Fungible Token," means that ownership of digital content is recorded on the blockchain, allowing individuals to own digital assets such as videos or images with rarity. Recently, interest in NFTs has surged across various fields including art, sports, and entertainment. For example, on "NBA Top Shot," a platform trading NFT digital cards of NBA players, a 10-second video of LeBron James, considered one of the top active players, was traded for $208,000 (approximately 240 million KRW).

Through this NFT business cooperation, Galaxia Metaverse has secured video IPs of various sports events such as golf tournaments and badminton owned by SBS Medianet, playing a leading role in expanding the sports marketing domain utilizing NFTs by securing the largest number of sports IPs.

Gwangrim Ko, CEO of Galaxia Metaverse, said, "In the era of untact culture, new fan service products must be planned in the sports and entertainment industries," adding, "Galaxia Metaverse will play a role in leading the interest of the MZ generation, who are familiar with digital video content, toward the sports industry."

Meanwhile, Galaxia Metaverse is a subsidiary established by fintech specialist company Galaxia Moneytree to strengthen expertise in blockchain business and is preparing to launch an NFT platform in November.