Korean companies’ latest marketing tool

Non-fungible tokens have become the latest promoting software by South Korean providers, as several of them are issuing the electronic asset to garner interest from young consumers.

Hyundai Motor mentioned Tuesday it will start a new selection of 10,000 Capturing Star NFTs on May well 9 by means of its NFT market.

The assortment is a sequel to a small film launched final thirty day period by the carmaker and Meta Kongz, a local blockchain technologies platform company and the creator of an NFT brand of the similar identify. The launch of its new NFT assortment is aimed at growing customers’ brand name experience into the “Metamobility universe,” a strategy created by the carmaker.

The auto big hopes to “create distinctive options for NFT community members to join in the enjoyable,” claimed Thomas Schemera, Hyundai Motor world-wide chief promoting officer. The company strategies to launch far more special NFTs and introduce far more member rewards, he extra.

NFT communities and events consider gain of the buzzword to amass publicity. Hyundai has obtained 127,000 users on its NFT community’s Discord, and 88,000 followers on the Hyundai NFT Twitter account.

In a move to highlight the company‘s legacy as remaining a presidential shoemaker considering that 1965, Hyungji Esquire mentioned it would challenge NFTs of shoes worn by former South Korean presidents — previous Presidents Park Chung-hee, Roh Tae-woo, Kim Young-sam, Kim Dae-jung and Lee Myung-bak.

Dependent on career orders the organization gained from former presidents, the shoemaker has restored the footwear as NFTs. The tokens will be launched on NFT market OpenSea on Friday.

The challenge was created to pay regard to the previous presidents, the business stated. All earnings from NFT income will be donated to charity, it additional.

NFTs are an productive marketing resource, as it lets corporations to converse with the more youthful era who search for new and specific products and solutions although also rekindling the fascination of business loyalists, said business insiders.

With corporations jumping into the NFT business enterprise, Korea’s NFT market place — which was valued at 14 billion gained ($12.6 million) in 2021 — is projected to get to 35 billion received by the close of 2022, in accordance to data from Statista.

By Lee Seung-ku ([email protected])