Fast-food giant Kentucky Fried Chicken (KFC) is entering the NFT space with a partnership with the NFT marketplace TriumphX. For this, the South Korean subsidiary of KFC has signed a memorandum of understanding (MOU) with TriumphX, reported Cointelegraph.
KFC Korea to issue NFTs
“We have signed an MOU with Triump X, a cross-chain-based NFT developer,” a KFC official was quoted by a local media. “Through this MOU, we plan to introduce blockchain and NFT technology to our brand content in a completely new format.”
The MOU focuses on using blockchain and NFT technologies to amp up the company’s branding. This means that KFC Korea will be issuing NFTs to its customers and blockchain users in various digital formats. These will include video, art, graphics, as well as metaverse collectibles.
With over 210 outlets across South Korea, KFC is highly popular in the country. Moreover, the NFT craze is picking up pace in South Korea. Last month, for instance, the country had got its first NFT marketplace: Korbit.
Additionally, the Kansong Art and Culture Foundation had recently announced its plans to offer NFTs of the historic Korean Alphabet Manuscript. As the country embraces NFTs, KFC Korea seems to be making the right moves.
Global brands and NFTs
The growing popularity of NFTs has led to many global brands entering the NFT space. The world-famous alcohol brand, Anheuser-Busch InBev, for instance, has announced a Budweiser NFT project. It had previously conducted many NFT charity auctions through Stella Artois, another of its brands. This included NFTs of the horse racing game, Zed Run.
Some of the other global brands in the game are luxury fragrance brand Krigler, Italian fashion brand Gucci, Denver Beer Co. and luxury fashion and perfume house Givenchy Parfums, among others.
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