KT Alpha signs business agreement with Modernwix... "Malbon Golf NFT Membership Issuance"

Development of Membership-Exclusive Services and Products

KT Alpha has signed a business agreement with Modern Works to issue the Korean non-fungible token (NFT) membership for the American golf wear brand 'Malbon Golf'.

[Asia Economy Reporter Lim Chun-han] KT Alpha announced on the 2nd that it has signed a business agreement with Modern Works to issue a Korean non-fungible token (NFT) membership for the American golf wear brand "Malbon Golf."

Under this business agreement, the two companies plan to issue Malbon Golf NFTs linked to membership and promote related product development and distribution businesses.

Malbon Golf is a California-based golf wear brand in the United States. Modern Works signed an exclusive master licensing contract with the U.S. Malbon Golf headquarters and launched the brand in Korea for the first time last year. It is gaining great popularity among the MZ generation (Millennials + Generation Z) with designs that blur the boundaries between everyday wear and sportswear and unique items.

The U.S. Malbon Golf headquarters created NFTs by transforming Malbon Golf's iconic golf ball character Bucket into various designs in December last year, and the initial issuance of 1,000 units sold out, receiving great response. Riding on this popularity, they issued 9,000 NFTs in the second round last month and started sales.

KT Alpha is responsible for NFT issuance, membership service development, and planning and building digital community spaces. Modern Works will focus on brand license operation, providing content for NFTs, and developing membership-exclusive products.

Kim Jin-yong, CEO of Modern Works, said, "Through NFT memberships containing Korea-exclusive benefits, we plan to communicate with customers and convey the unique value of Malbon Golf," adding, "This partnership will be an opportunity for Modern Works to take a step forward as a fashion content company."

Jung Ki-ho, CEO of KT Alpha, stated, "NFTs are evolving from means of investment or ownership to membership forms that can expand into unique brand experiences," and added, "Through this partnership, Malbon Golf customers in Korea will be able to enjoy various brand experiences and exclusive benefits."