Klaytn partners with OpenSea to drive growth in Asian NFT ecosystem

Key Takeaways

  • The Partnership is aimed at spurring growth in the Asian NFT ecosystem.
  • An end-to-end metaverse support package will also be provided by Klaytn Foundation.

Metaverse blockchain ecosystem, Klaytn Foundation, has joined hands with OpenSea- the leading marketplace for NFTs, to spur growth in the Asian NFT ecosystem.Under this Partnership, NFT conference and ecosystem development initiatives will be carried out.

Commenting on the recent development, David Shin, Head of Global Adoption at Klaytn Foundation, stated through this Partnership their goal is to draw out innovative use cases and support the growth of the Klaytn ecosystem in Asia..He further described the collaboration as a crucial step towards their vision of building a blockchain for metaverse, gamefi and the creator economy.

According to the official announcement, developers can use the Klaytn Growth Fund (KGF), developers tools and resources, to receive an end-to-end metaverse support package that Klaytn is building through onboarding strategic partners to provide infrastructure and other support services. The partnership between Klaytn Foundation and OpenSea becomes much more notable as it is claimed to be the first-of-its-kind dedicated to accelerating the growth and adoption of NFTs in Asia.

The partnership was unannounced at the NFT.NYC event. Klaytn Foundation has always had an eye for collaborative initiatives. Some of Klaytn group’s strong partnerships include Altava Group in Singapore, East NFT in Thailand, Soramitsu in Japan, and Blockchain-based Service Network in China among others.

The news comes as Asia is all set to become the next big market for NFTs. Southeast Asia has one of the highest rates of NFT ownership worldwide, aided in part by the popularity of play-to-earn games like Axie Infinity. According to a Finder study, the Philippines had the highest proportion of NFT owners in 2021, with 32% of adults admitting to owning at least one NFT.

Despite these numbers, some Asian Countries like Japan are far behind the NFT game. According to Finder.com, only 2% of adult internet users in Japan own NFTs. The Partnership between Klaytn and OpenSea is expected to introduce millions to the world of NFTs and drive them to purchase them.

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Saniya Raahath

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