NFT: Lotte, Shinsegae to contend in the non-fungible symbolic market with their bear character NFTs

Lotte and Shinsegae are two of the biggest retail organizations in South Korea. They are rivals in the retail business, and as they bounce into the universe of non-fungible tokens or NFTs, they will undoubtedly be rivals around here region once again.

As per The Korea Times, Lotte and Shinsegae are delivering their own individual bear characters, and these will set them in opposition to one another in the NFT market. The organizations said recently that the presentation of their authentic characters is really one stage forward in their moves to construct their own metaverse platforms.

Lotte and Shinsegae see the virtual world or the metaverse, which is becoming famous nowadays, as a spot where they can advance and acquire more clients to their stores by means of the 3D virtual world. To begin its NFT business, Lotte Homeshoppng sent off its own non-fungible symbolic commercial center just called the NFT SHOP.

This is a recently opened stage, and the organization has proactively begun offering to launch its NFT adventure. It declared on Monday that its pink bear character named Belly Gom is available to be purchased as an advanced token.

Business spectators noticed that it is typically the crypto trades that open or acquaint NFT markets with general society; along these lines, Lotte’s NFT SHOP is the primary commercial center sent off by a retailer. Since this is just the beginning, the organization will sell a predetermined number of its Belly Gom NFTs. There will be 300 of the NFT characters, which will be sold for ₩60,000 or around $47.36 each.

To advance the offer of its bear character NFTs, Lotte Homeshopping will make a 60-second video of the 3D Belly Gom. The retail organization is likewise intending to deliver more NFTs in the future including its virtual model called Lucy, which appeared last year as a Lotte Shopping show host.

“Following the introduction of our virtual model Lucy last year, we have opened our NFT SHOP with an aim to launch a metaverse platform ultimately. We are upgrading our metaverse business stage-by-stage,” an authority at Lotte Homeshopping said in a statement.

He added, “We have also formed a business partnership with Doonamu’s subsidiary Lambda 256 to enable the second trading of our NFTs at Open Sea, the world’s largest NFT market, within this year,” the authority added.

Finally, Shinsegae will likewise be stamping 10,000 NFTs of Puuvilla, the organization’s own bear character, beginning June 10. The firm said that the person is the primary Picture For Profile (PFP) NFT that it has at any point made. Shinsegae is planning various advantages and advantages for the individuals who will purchase its Puuvilla NFTs, according to The Coin News.

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