Telecom Giant LGU Plus Moves Deeper Into NFT Space

Telecom Giant LGU Plus moves deeper into the NFT space, as South Korea’s largest telecommunications company will release a fresh batch of non-fungible tokens (NFTs) next month as it expands into the crypto and blockchain industries.

According to Money Today and Chosun Ilbo, the company, which is a subsidiary of the LG conglomerate, will release a new line starring its Moono octopus-like cartoon figure. Its initial collection, launched in May, sold out in less than two seconds when it was made available on the OpenSea platform via the Klaytn blockchain, which was established by Kakao.

The first collection had 200 tokens and depicted Moono characters enjoying each day of the week. The second collection will be substantially larger, with 1,000 tokens being made available. According to the corporation, they will depict Moono office workers and their “changing emotions” over the “working week.”

The company also said that any Klay (KLAY) tokens obtained from the sale will be given to charity. The company will keep 100 of the new NFTs for “promotion purposes,” and the remaining 900 will be sold during two auctions on September 5. The first selling time will be from 7 pm to 9 pm, when 300 NFTs will be sold, followed by the last 600 sales from 10 pm to midnight.

Buyers of five tokens will also be able to claim tickets to the Legoland theme park, with anybody completing a set eligible for a Moono toy.

LGU+ also stated that it plans to expand its NFT-related operations in the coming months and that it would soon release information of cooperation with the creators of the popular Kalytn blockchain NFT collections Shy Ghost Squad and Animal Punks. And so Telecom Giant LGU Plus moves deeper into the NFT space proving that there is potential in the industry.

LGU+, along with two other LG companies, LG Electronics and LG International, is a member of the Klatyn governing council.

Domestic media sites have previously indicated that LG, which has been testing a number of crypto-related solutions for several years, may be contemplating its own coin launch. SK, which owns SK Telecom, LGU+’s main competitor, has already declared that it will introduce a coin through its SK Square subsidiary before the end of the year.

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