FSN Subsidiary Six Network Collaborates and Co-Invests with Geno Holdings on NFT Marketplace Business

[Asia Economy Reporter Jang Hyowon] FSN, a KOSDAQ-listed company, announced on the 13th that its subsidiary Six Network will collaborate with XENO Holdings on the NFT marketplace business and joint investment.

Six Network plans to engage in joint development and operation to advance the NFT marketplace that XENO Holdings has been working on. The two companies will issue NFTs not only in typical fields such as artworks, videos, and music but also based on game and movie IPs. Additionally, they intend to pursue comprehensive joint investments in NFT-related industries.

Hong Kong-based tech investment firm XENO Holdings has been actively investing in and nurturing various domestic and international companies, including AI specialized firms and global SaaS companies. In the early days of the NFT market, it operated the one-stop marketplace 'XENO NFT Hub' for over two years as part of its blockchain investment portfolio. Furthermore, it launched the joint venture 'Luxen,' specializing in metaverse platform construction, and 'XENO Labs,' aimed at providing community-based NFT and metaverse services. Leveraging its strengths in art and entertainment, it has conducted projects such as artist Peter Moon's exhibitions, JAY B digital cards, and Summer Cake NFTs.

FSN’s subsidiary Six Network has also shown active progress in blockchain business sectors such as NFTs and DEX platforms. Last year, it launched the 'Tiara Comeback Commemorative NFT' based on the Binance Chain, marking the first K-pop NFT business targeting the Greater China and Southeast Asia regions. It is promoting collaborative NFT projects with its parent company FSN, Abyss Company, MetaKongs, and others. Recently, FSN formed a business partnership with Japanese mobile social game listed company Comseed, enabling Six Network to further expand its business into the P2E market.

Through this project, the two companies plan to strengthen their global NFT market strategies. FSN has subsidiary networks in Singapore, Thailand, Vietnam, China, Taiwan, and Indonesia, and Six Network’s cryptocurrency 'Six' has grown to represent the Thai market, demonstrating long-standing global competitiveness. The company aims to expand the NFT marketplace globally with XENO Holdings and develop it into a platform bridging Korea and Asia.

Lee Sangseok, Co-CEO of FSN, stated, "XENO Holdings is a company leading the NFT market comprehensively, from NFT issuance to marketplace operation and metaverse. We plan to pursue various collaborations across the blockchain business with FSN. By fully leveraging FSN’s blockchain expertise and global marketing capabilities, we will build an industry-leading NFT marketplace together and launch various forms of NFTs."

Allen Miller, CEO of XENO Holdings, said, "Combining our two years of NFT business experience, know-how, and investment capabilities with FSN’s marketing and overseas business strengths will create synergy and allow us to develop into a professional NFT curation platform. In particular, Six Network’s blockchain expertise is expected to be the foundation for growing into a differentiated NFT marketplace."