KFC Korea To Launch NFTs Through New Partnership

The South Korean subsidiary of the fast-food chain Kentucky Fried Chicken (KFC), owned by PepsiCo Inc. PEP, plans to launch its own non fungible tokens (NFTs) through a new partnership.

What Happened: According to a Friday report by local news outlet ENewsToday, KFC Korea signed a memorandum of understanding with NFT marketplace TriumphX.

The aim of the collaboration is to leverage NFTs to enhance brand engagement.

KFC Korea plans to issue NFTs featuring video, art, graphics, and digital collectibles to its customers. 

According to a 2019 South China Morning Post report, there were more fried chicken restaurants in South Korea than McDonald’s and Subway restaurants in the whole world.

What Else: NFTs are a digital assets that cannot be divided into smaller parts and unique, meaning that no two are alike, — both those features set them apart from cryptocurrencies such as Bitcoin BTC/USD and Ether ETH/USD.

Those features make them a good way to digitize collectibles and real-world goods: it has to be indivisible since you cannot split your favorite baseball trading card without destroying it, and it has to be unique in order to represent a unique object.

Read also: How to mint your own NFTs