Izmedia Opens 'Front Row', an NFT Platform Supporting Card Payments

[Asia Economy Reporter Hyunseok Yoo] Izmedia's NFT (Non-Fungible Token) platform 'Front Row (FRONT ROW)' will officially open on the 20th. On Front Row, NFTs from various fields such as stars, dramas, and entertainment will be traded.

The company stated, "Front Row is an innovative platform where users can make direct payments using credit cards," adding, "Since NFTs can be owned without a complicated payment system, we expect a diverse range of users worldwide to join."

Izmedia has established a partnership by signing an MOU (Memorandum of Understanding) and successfully attracting investment with Greenbox, a software and IT service company listed on the US Nasdaq.

Greenbox is a company registered in Visa's Fast Track program, a global payment service provider. Front Row has proactively addressed customer identity verification (KYC) and anti-money laundering (AML) measures, thereby resolving future risks related to NFT payments.

Izmedia plans to actively showcase NFTs starting with concert site NFTs of the national singer Lee Seungcheol. This Lee Seungcheol NFT was created focusing on his trademark white custom microphone. Since Lee Seungcheol himself participated directly in issuing the NFT, it is explained that its rarity will be further emphasized.

The company said, "We will also create avatars of singers issued as NFTs and expand the platform into the metaverse area in the future," adding, "We are envisioning a platform where users can buy and sell NFTs of global stars and communicate with each other."

Since NFTs highlight unique originality based on blockchain technology, the strategy is to create communication channels among users and make it a lively place for active communication.

A company official emphasized, "We are continuously securing IPs of overseas stars and global influencers, including K-content," and added, "We will strive to become a global NFT platform by leveraging our technological capabilities and IP acquisition abilities."

Meanwhile, Izmedia signed an MOA (Memorandum of Agreement) for NFT and metaverse business with Nasdaq-listed Remark Holdings (ticker MARK) on the 14th. Izmedia plans to start platform development together by utilizing the IP of 'Bikini.com' owned by Remark Holdings. Previously, Izmedia also signed a partnership agreement with MetaLab, which provides UI·UX solutions to global IT companies such as Apple, Google, and Amazon.