Klaytn lays foundation for Metaverse-as-a-Service with key infrastructure partners

SINGAPORE, June 9, 2022 /PRNewswire/ -- Global crypto adoption has exploded in recent years, increasing by more than 800% between 2020 to 2021. While the majority of the world has yet to purchase their first NFTs, major brands from fashion, tech, entertainment to gaming are recognizing the significance of the metaverse and taking their first steps into the nascent space.

Gaming titan, Netmarble, has released their first Play-to-Earn games on Klaytn this year — A3: Still Alive and Ni No Kuni: Cross Worlds. Fashion brands such as Gucci, Burberry, Balenciaga and Prada have all launched their own NFT collections, and companies like ALTAVA Group are focused on bringing high fashion into the Metaverse. Asian NFT marketplace East NFT has onboarded popular LGBTQ content from Thai-based Y Series content production houses onto the Klaytn chain.

Aligning with their vision to be the bridge connecting Web2 to Web3, Klaytn Foundation continues to forge key strategic partnerships and collaborations for a Metaverse-as-a-Service model, which will allow Web2 companies, game publishers, content creators and other users to "plug-in" seamlessly into the metaverse.

Speaking on the strategy to transform the Klaytn ecosystem, David Shin, Head of Global Adoption, explained, "We believe that the formation of Web3 will be a collaborative effort. And hence, rather than to build every tool needed by ourselves, we're tapping into the strength of our allies, and hope to create a cohesive metaverse that will allow any companies, content creators and users to easily climb onboard."

With that, Klaytn is thrilled to highlight key partners and collaborators of H1 2022 that will help to pave the way for interoperability, decentralization and smooth exchanges in the Klaytn metaverse.

1. Parity Technologies
   Parity Technologies is a Web3 software development company that created the Substrate SDK, used to develop the Klaytn-Substrate — a sidechain bridged to Polkadot and Klaytn Mainnet. The Klaytn-Substrate will act as an intermediary environment, where collaborative technological, business case, and community initiatives can combine in interesting and synergetic ways. It acts as "canary network" to safely, efficiently, and quickly capture new use cases, new technologies, and provide the community with more options for building great things within the Klaytn ecosystem. [Read more]
2. Adgorithmics
   Adgorithmics, a Singapore-based AI-enabled e-commerce advertising platform, recently launched an innovative NFT-based incentive and customer loyalty program, called MetaGacha. For every purchase, customers can receive a MetaGacha NFT which can serve as a membership card for exclusive deals, or be used to exchange for vouchers or promotions. Sales agents can also receive NFT for every deal. This can help online merchants to expand their reach and increase sales, while bringing substantial value to customers and agents in the form of NFT. [Read more]
3. Smart Token Labs
   Smart Token Labs is an Australian blockchain company that has built two highly successful open source products. AlphaWallet is the world's first 100% open-source wallet and blockchain apps platform. TokenScript combines token and smart contract logic into a standardized interface, creating "Token Layer" functionality that can be deployed in wallets and on websites. The technology builds a pathway to smart token composability, and addresses issues with trust, interoperability, security, and interface seen with current token transactions. [AlphaWallet; TokenScript]
4. Soramitsu
   Soramitsu is a Japanese fintech company with expertise in developing blockchain-based solutions for digital asset and identity management. They are the developer of and major contributor to the open-source blockchain platform Hyperledger Iroha, digital currency for the National Bank of Cambodia, a closed-loop payment system for the University of Aizu in Japan, an identity verification system prototype for Bank Central Asia in Indonesia, and many more. The team is set to work on implementing the first open-source DEX on Klaytn. [Read more]
5. Blockchain-based Service Network (BSN)
   Klaytn will be establishing an Open Permissioned Blockchain (OPB), the Chongqing Chain, on the Blockchain-based Service Network (BSN), a multi-chain public infrastructure network that aims to be the standard for all blockchain deployments. Through the development of the Chongqing Chain, it would be possible for Klaytn developers to plug in to the China blockchain network, providing an entry into the massive China market, and vice versa for Chinese developers looking to go global. [Read more]

About Klaytn Foundation

Klaytn Foundation is a non-profit organization that was established to accelerate global adoption and ecosystem maturity on Klaytn. The foundation manages the US$500m Klaytn Growth Fund and operates alongside Krust, the holding company for all overseas ventures of internet giant Kakao Corp.

For media enquiries or partnership collaboration opportunities, please contact:

Aaron Koh
Head of Marketing, Klaytn Foundation
Email: [email protected]

SOURCE Klaytn Foundation