- KFC Korea announced that they have signed a deal with TriumphX.
- TriumphX is an entertainment and nonfungible token marketplace.
- KFC plans to introduce blockchain and NFT technology to its brand content.
Today, KFC Korea announced that they have signed a memorandum of understanding (MOU) with TriumphX, an entertainment and nonfungible token marketplace. The deal focuses on joint blockchain research to integrate NFT and improve the branding of the fast-food giant.
According to some local media, KFC plans to introduce blockchain and NFT technology to its brand content in a new format.
A KFC official shared their statement on this matter,
“We have signed an MOU with TriumphX, a cross-chain based NFT developer”
Of note, NFT is a technology that stores ownership of a certain digital file in the form of a blockchain that cannot be forged. It has been applied in various fields such as sports, art, music, games, etc. as it supports free transaction between individuals.
Meanwhile, TriumphX will help create and sell KFC-themed NFTs to customers that are already familiar with the KFC brand. By far, TriumphX has worked with several local artists and entertainment companies including XPOP, Kim Joong Man, and Rosa Fantasy. Respectively, they are known as a decentralized entertainment marketplace, famous photographer, and cartoonist.
South Korea definitely did not miss the NFT craze this year. Based on a report by Korea Times, copies of a priceless manuscript detailing the origins and working of the Korean writing system ‘Hangeul’ will be sold as limited edition NFTs. The Kpop industry is also looking to tap into NFTs to promote artists and reach more fans.
Consequently, with the help of this agreement, KFC Korea provides value and interest to existing customers. It will attract more blockchain users if they apply various digital formats such as graphics, and metaverse exhibitions to KFC’s brand contents and issue them as NFTs.