In order to stabilize the non-fungible token (NFT) market and build an ecosystem, the Korea NFT Contents Association was launched on the 19th. The direction is to support the digitalization of domestic content and to play a pivotal role in the growth of the content business within the virtual economy.
The NFT Contents Association held ‘NFT Seoul 2022’ at the InterContinental Seoul Parnas Grand Ballroom on the same day and held an inaugural general meeting. The event was held simultaneously online and offline.
The association is composed of the board of directors, steering committee, president, and auditor, and has been subdivided into legal committees, international exchange committees, and NFT contents virtual economy special committee.
It plans to promote industrial growth through research and tasks related to the NFT content industry, regulatory reform, and institutionalization. In addition, it will support NFT projects led by member companies of the association and the government, and promote NFT standardization and verification, and international solidarity projects to enhance business competitiveness.
The first chairman of the NFT Contents Association will be Kim Hyung-joo, chairman of the Korea Blockchain Industry Promotion Association, and Kim Young-jin, president of the Korea Popular Culture and Arts Industry Federation, will serve as the chairman.
Chairman Kim Hyung-joo said, “The era has arrived in which blockchain, metaverse, and NFT lead the market. said.
Kim Young-jin, president of the Association, explained, “We will do our best to facilitate the interaction between popular culture and blockchain, and to smoothly prepare the legal system required for NFTs.”
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At the event, institutional investors such as Moneta Asset Management and writers collaborated to form the ‘NFT Contents Fund’ and the ‘Asia NFT Contents Alliance’. In the morning, a conference was held, followed by lectures by NFT experts.
Kim Hyung-joong, president of the Korea Fintech Association and a professor at the Graduate School of Information Security at Korea University, said, “We have been urging the establishment of a ‘Digital Asset Committee’ similar to the Financial Services Commission. For that to happen, it must be accompanied by government support.”
