Klaytn Partners With OpenSea, Aims To Grow NFT Market In Asia

Singapore-based blockchain Klaytn has teamed up with NFT marketplace OpenSea to invest in the Asian NFT market.

What Happened: Klaytn is one of four blockchains supported by OpenSea, the world’s biggest NFT marketplace. The others include Ethereum ETH/USD, Solana SOL/USD, and Polygon MATIC/USD.

Klaytn was initiated by Ground X, a blockchain affiliate of South Korean company Kakao. The partnership with OpenSea entails ecosystem grants and collaborations on conferences that should encourage NFT projects based in Asia to worldwide audiences.

“Due to its backing by Kakao Corp, one of the largest tech giants in Korea, Klaytn has formed deep roots in Asia," Head of Global Adoption at Klaytn Foundation David Shin said. "This gives Klaytn an advantage in onboarding gaming and metaverse-related use cases in the region. With our belief that web3 is a collaborative effort, the Klaytn-Opensea partnership puts us in good stead to collectively increase the prominence and vibrancy of Asia's NFT ecosystem.”

Regarding the long-term output of this partnership, Shin added: "In time, we hope to collectively enable a more seamless metaverse, with a flourishing ecosystem of digital games and innovative services that enjoy the benefits of increased liquidity and interoperability in Asia."