Aptos and Lotte Group Subsidiary to Build Web3 Hub

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In a groundbreaking move, Daehong Communications, the South Korean advertising subsidiary of the Lotte Group, has joined forces with the Aptos Foundation to embark on a Web3-powered strategic global expansion. 

The collaboration between Daehong and Aptos marks the initiation of the development of a Web3 hub for Lotte, a colossal South Korean multinational conglomerate overseeing approximately 90 business units.

Aptos also revealed an upcoming Web3 game in partnership with Universal Pictures based on the Nicholas Cage and Nicholas Hoult-starring horror-comedy “Renfield.”

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Aptos and Lotte Embark on a New Journey

Daehong Communications disclosed ambitious plans to introduce a range of initiatives within Lotte Group’s Web3 hub. These include the implementation of loyalty programs, NFT-based profile picture projects, and entertainment ventures, among other innovative endeavors.

The advertising firm has laid the groundwork for forthcoming non-fungible token (NFT) projects and use cases for various subsidiaries under the Lotte Group umbrella. Future Web3 initiatives will encompass loyalty programs aimed at enhancing fan engagement, as well as new payment services designed to facilitate collectible preservation and combat counterfeit tickets.

Reward Strategy 

Daehong’s strategy extends to amplifying the value of Web3 projects through global expansion. On the other hand, firms like eBay have been laying off employees from their Web3 division, citing changes in strategies.

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The initial step in this direction involves a collaborative ecosystem initiative between NFT and digital collectible projects, BellyGom, and the South Korean national football B team, Baeho Eleven. 

As part of this collaboration, select BellyGom NFTs will be transferred to the Layer 1 blockchain, enabling users to receive rewards from the project via the Aptos mainnet.

These rewards can be repurposed by users to purchase goods available on the Aptos platform. The blockchain infrastructure will also power Baekho Eleven’s official loyalty program during the upcoming Qatar Asian Cup.

Aptos: A Prominent Player in the Space

Aptos Foundation, a provider of blockchain services with a focus on creating valuable usability, boasts an ecosystem comprising over $400 million in investments from renowned backers such as a16z, Jump Crypto, Apollo Global, Franklin Templeton, Dragonfly, PayPal Ventures, and Coinbase Ventures. With a current market capitalization of $3.7 billion, Aptos has established itself as a prominent player in the blockchain space.

Notably, Aptos experienced a surge in its user base last year, with a remarkable 900% increase after forming a strategic partnership with the Indian social media platform, Chingari.

This collaboration proved pivotal as Chingari, formerly powered by Solana, migrated to Aptos in pursuit of an enhanced user experience amid Solana’s temporary network outages.

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