ReapChain “Full-scale entry into the NFT market.”
ReapChain, a service-type blockchain project, announced on the 25th that it is accelerating establishing a non-fungible token (NFT) business. Based on the advancement of the ‘bicameral consensus algorithm’ technology collaborating with Seoul National University’s Distributed Systems Lab, the plan is to speed up the platform business using blockchains.
A non-fungible token (NFT) is a new digital asset that proves authenticity by assigning a cryptographic value that cannot be copied or forged to digital files and videos using blockchain encryption technology. Last year, ReapChain had secured various IPs to be applied to the NFT platform, such as signing a business agreement with Sports Seoul, a sports media company, and Merrell, an outdoor brand, to form a participant-oriented marketplace and to expand and revitalize the ecosystem.
Recently, as NFTs are attracting attention as a new investment destination, they are issued and traded indiscriminately. Cases of infringement of copyrights and portrait rights of works are gradually increasing. It is an aspiration to introduce an NFT market platform differentiated in authenticity verification that guarantees authenticity.
ReapChain CEO Lee Jung-han said, “ReapChain is preparing for active exchanges and collaborations to secure IP with large corporations and entertainment for business diversification based on blockchain.” In addition, we plan to introduce blockchain-based communities and social media sequentially,” he said.
Meanwhile, ReapChain is about to be listed on an extensive global exchange. The strategy is to set a standard for NFT culture and expand the market by entering the domestic NFT market and actively jumping into the international NFT market platform business.
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