The NFT Alliance Grid will be a collaborative platform for companies to share their NFT-based services and products.

It seems that Kakao Group is trying to establish itself as a leader in the NFT space by partnering with other companies. They are hoping to create a competitive NFT ecosystem and expand it into sustainable metaverse services.

Kakao's blockchain technology affiliate Ground X announced on the 21st that it has established an NFT Alliance "Grid" with domestic companies.

More than 50 companies, including Kakao Games, Kakao Entertainment, Kakao Brain, Crust Universe, Cheil Worldwide, Amore Pacific, SK mySUNI, Lotte Department Store, SBS, Shinhan Card, Shinhan Financial Investment and Daewoong Pharmaceutical, will participate in the Grid.

"Many companies are using NFTs, but they often need project planning and issuance and operation support through marketplaces," said Yang Joo-il, CEO of Ground X. "There was a limit to being applied to consumers' real-life services."

Ground X plans to connect these companies to build a collaborative model and popularize them so that the use of NFTs can be expanded in real life such as online and offline communities and events.

Meanwhile, Kakao Enterprise plans to build a competitive NFT ecosystem with Treasure Labs to develop new services and new businesses and expand them into sustainable metaverse services. Treasure Labs is Korea's first-generation NFT company that published Collectible Art NFT for the first time in Korea based on its original NFT character design and concept. Recently, it has changed its name from Treasure Club to Treasure Labs and has begun to enter the North American and European markets.

This collaboration is expected to create business opportunities in various industries such as leisure and food and beverage.  They hope to combine Treasure Labs' NFT issuance, operation, and development capabilities with AI and cloud technologies held by Kakao Enterprises as Korea's leading IT platform.