South Korea?s popular chat application, KakaoTalk has strengthened its presence in the crypto space through a partnership with non-fungable token (NFT)-powered trading platform and its new crypto wallet, Klip.
According to a local news report, the trading association, Angel League, will receive support from Kakao?s Klip platform for its digital certificates based on NFTs. Angel League is a community-type unlisted stock trading platform that allows groups of investors to jointly purchase stocks of startups in pre-listing stage.
The group members who are referred to as ?Lead Angels? are selected through a safe and convenient recruitment process to incorporate new traders willing to sign a stock trading contract to operate on the platform.
Through Kakao?s partnership, Angle League will issue confirmation of membership of individual investors on an NFT-based digital card through Kakao?s Klip crypto. This digital card is permanently stored on the public blockchain platform Klaytn, making it secure and resistance to alterations. The NFT-based digital card issued to members will permit them to trade on the platform.
Moreover, the NFT-based digital card is issued based only on the member?s real name and phone number, and is stored in the Klip as a virtual asset. This makes it possible to easily prove ownership while managing personal information safety
Jae-sun Han, CEO of Ground X, a blockchain technology affiliate of Kakao, said they will continue to partner with startups and companies in various industries to discover NFT cases using certificates, coupons, and tickets. He added this will not only provide the company?s blockchain business scalability, but also offer an opportunity for startups such as leagues to focus on essential activities of their businesses.
Oh Hyun-seok, CEO of Capbox, the company that runs the Angel League, said the association has reduced operational hassle and strengthened the convenience of members after enabling its membership verification through Klip?s NFT digital card. He added that the move will also expand the way to transfer ownership of the company through Klips.