‘Grand Theft Auto’ Game Publisher Take-Two Interactive to Layoff Employees, Discontinue Projects 
FENTY x PUMA Launches New Creeper Phatty Earth Tone Collection 
Samsung's Exynos 2500 Rumored to Eclipse Snapdragon 8 Gen 4 in Power Efficiency With 3nm SoC 
OpenAI CEO Sam Altman's Worldcoin Unveils Human-Centric Blockchain, World Chain 
Coca-Cola Launches Global 'Recycle Me' Campaign to Champion Recycling 
LG Electronics Eyes $1 Billion Through Bond Deal 
JPMorgan to Leverage AI Across Banking Operations, Jamie Dimon Confirms 
Volkswagen Unveils New EV Platform in China to Cut Costs, Challenge BYD 
Senators Push for Stablecoin Regulation to Protect US Dollar Dominance 
Shiba Inu Token Burn Skyrockets, Fueling Hopes for Market Rebound 
Bitcoin Holders Transfer $1.7 Billion to Accumulation Wallets Amid Price Drop 
Adidas Raises 2024 Profit Outlook After Strong First Quarter 
Rivian Expands Layoffs With Additional 1% of Jobs Amid Growing EV Market Woes 
Canada Set to Enforce OECD Crypto Tax Standards by 2026 
Shibarium's Transaction Count Soars to Nearly 1 Million in Record Surge 
Fiji Central Bank Cautions on Crypto Use, Dashing Bitcoin Integration Hopes 
HSBC Reportedly Axing Dozens of Additional Investment Banking Jobs in Asia 
Dunamu, a Seoul, South Korea-based fintech company, has launched its beta service for the non-fungible token platform called the “Upbit NFT Beta.” This company is also the operator of one of the country’s leading cryptocurrency exchanges, Upbit.
On Tuesday, Nov. 22, Dunamu announced it set up a new trading platform for NFTs, and this move further broadened its mark in the virtual asset industry. According to The Korea Herald, the company launched its Upbit NFT Beta on Upbit’s website, and users can use the service to sell and buy non-fungible tokens at auctions.
Currently, there are two available options for the auctions, and users can participate in either Dutch or English biddings, depending on the digital asset being sold. There is a bit of difference between the two, and it was shared that in the English auction, the one with the highest bid wins, while in Dutch, the bidding starts at the highest price, and it goes lower as the auction progresses.
A portion of the commission fees that the platform will collect will be given to the artists whose works were made the basis for the NFT pieces. Once the beta testing for Upbit’s NFT trading platform is over, Dunamu will be launching a mobile service for it.
Moreover, Dunamu said in its announcement that with the commence of its NFT service, users could see NFTS based on artworks by famous artists and personalities. The company mentioned that one of them is Jang Kal, and his works will be included in the beta test.
His NFT artworks will be up for bidding soon. Aside from arts, Dunamu’s Upbit NFT platform will also gradually showcase digital assets featuring other areas, including fashion, sports, broadcasting, and game illustrations.
“NFT is becoming a megatrend in the digital era,” a company official said in a statement. “We will provide a safe and convenient trading service that will, in turn, contribute to expanding the domestic NFT market.”
Finally, Korea Joongang Daily reported that Dunamu is hoping to make NFT trading widely accessible to the public. They will try to do this by creating and offering a reliable and secure trading space. The company added that they would only allow NFTs that their own assessment system has approved for trading.
