Metaverse

KT Alpha to launch a metaverse digital transaction platform

To assure competitiveness in the future trading industry, KT Alpha, a trading wing of South Korea’s huge telecommunications giant KT, will build a metaverse-based digital asset transaction platform. The firm will collaborate with a real estate investment firm and a cryptocurrency exchange.

kt alpha metaverse

On January 14, KT Alpha announced that it has struck a deal with Korea Real Estate Investment & Trust (KOREIT) and Huobi’s South Korean office. They will establish a transaction system for virtual assets such as virtual real estate. “KT Alpha will be in charge of creating a metaverse-based real estate area,” Yim Hyun-jung told Aju Business Daily.

KOREIT will lay the groundwork for a virtual real estate environment, while Huobi Korea will handle virtual assets and non-fungible token (NFT) transactions. The metaverse platform development project will begin in 2022.

The metaverse is a virtual environment, accessible through smartphones, computers, and virtual reality headsets. Moreover, each user is portrayed by a unique digital character known as a “avatar”. The global metaverse market will rise from $47.7 billion in 2020 to $828.95 billion by 2028, according to global market research firm Emergen Research.

A non-fungible token (NFT) is a data unit on a blockchain network of linked virtual ledgers. A blockchain validates each NFT as a unique, non-transferable digital asset. This technology has applications in the content market, where evidence of ownership is essential.

KT Alpha announced that it has inked an agreement with KOREIT to engage in virtual assets and real estate. Further, “KT Alpha will be in charge of creating a metaverse-based real estate area,” Yim Hyun-jung told Aju Business Daily.

KOREIT will lay the groundwork for a virtual real estate ecosystem. While Huobi Korea will handle virtual assets and non-fungible token (NFT) transactions. Finally, the metaverse platform development project will begin in 2022.

For MetaNews.

Avatar

Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

Related Posts