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Lotte Group is looking to expand its non-fungible token business to reach the global market. To realize this goal, the company's marketing and NFT hub, called Daehong Communications, has struck a deal with Polygon blockchain firm.
Daehong Communications confirmed the deal with Polygon on Monday, Feb. 27. As per Forkast, the collaboration will commence with the rebranding of Lotte's BellyGom NFTs, which is the conglomerate's home-shopping's profile picture or PFP.
The BellyGom NFTs are a digital collection that features a pink bear character. These were first minted in August 2022 on the Klaytn network and provide NFT holders with a range of benefits related to services and products of the company, like hotel vouchers or shopping discount coupons.
In partnership with Polygon, Daehong is rebranding its NFT collection, which will now be called "BellyGom NFT Season 2." The company revealed it is still working on the project, so there is no specific release date for the new NFTs yet.
"Daehong Communications' CEO Hong Seong Hyun signed a partnership with the global blockchain platform Polygon and started the global expansion of the Lotte Group's NFT project in earnest," the marketing and NFT hub stated in a press release. "Daehong Communications, starting with an equity investment in Blocko, a blockchain specialist in July, is actively developing the NFT business by cooperating with various companies, including Lotte Group affiliates, as the hub of the Lotte NFT project."
In a separate statement to Forkast, the spokesperson of the blockchain firm said that "Polygon and Daehong are now technically partners and parties that provide marketing support as needed. Polygon also explained that it would not be running the actual operation of the BellyGom NFT project, but existing NFTs are set to be moved to its blockchain platform.
Finally, Lotte Group is speeding up the global expansion of its few NFT projects through cooperation with well-known local and foreign companies. It has taken the first step to further its reach in the global market by signing a deal with Polygon.
