South Korean corporation Lotte intends to expand its presence in the Web3 industry through a partnership with blockchain company Aptos Labs. It plans to start with the sphere of NFTs and Metaverse technologies.
Aptos Labs officials announced a strategic partnership with Lotte Group, one of South Korea’s largest conglomerates, which comprises approximately 90 companies of various types. The partnership’s global goal is to expand chaebol’s presence in the Web3 industry.
The partnership will primarily affect Daehong Communications, a marketing subsidiary of Lotte Group. The collaboration will begin with the Metaverse project Bellyland, developed by Daehong Communications, with the participation of Animoca Brands. Aptos Labs specialists will support the server side of Super Jelly, Bellyland’s reward system. Moreover, NFT rewards that can be earned through various Jelly Adventures games and missions that take place in the Bellyland virtual space will be available on the Aptos blockchain network.
Based on the partnership, the corporation plans to expand its presence in the Web3 industry of other companies included in the Lotte chaebol in the future. The corporation plans to agree on cooperation between the NFT project BellyGom and the sports loyalty program Baekho Eleven. In addition, future initiatives of the conglomerate include the development of loyalty programs for community marketing and payment services based on digital assets.
In 2023, Aptos Labs raised over $400 million from leading U.S. investment companies, including a16z, PayPal Ventures, Franklin Templeton, Apollo Global, Coinbase Ventures, Jump Crypto, and others. Besides, the project actively cooperates with major corporations in implementing Web3 technologies. In August last year, the partnership between Aptos Labs and Microsoft became known, within the framework of which it was planned to implement AI and Web3-based developments in the work of significant representatives of the TradFi sector.
