The Korea Herald


Digital asset NFT trading platform BIZA UVIT pioneers new genre

By Kim So-hyun

Published : March 29, 2022 - 15:52

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AMAXG Group’s BIZA-UVIT is a digital asset trading platform for non-fungible tokens (NFT) in content, culture, art, e-sports, movable assets and real estate.

AMAXG built strategic partnerships with a number of organizations including the Federation of Artistic and Cultural Organizations of Korea (FACO), the Global Medical Aesthetic Exchange Association (GMAEA) and the Korea Blockchain Enterprise Promotion Association, and is quickly entering the business of digitally tokenizing user’s assets such as artworks to clarify their ownerships.

Fabrication of digital creations is impossible and safe transaction is guaranteed on the NFT platform, which, combined with metaverse, is creating a massive virtual world.

NFTs are like an unreplaceable certificate that proves the ownership of digital assets such as artworks, videos and assets with blockchain technology.

Unlike bitcoin, NFTs cannot be replaced, so their prices can vary, generating values in terms of uniqueness and scarcity, and production and transactions occur.

NFT users can expand their domains and trade assets with other users in the metaverse to obtain independent business opportunities.

As they can create NFT items and profit through trading, there are profuse content production and constant inflow of new users. Digital currency used in the virtual world can also be cashed. The NFT is expected to emerge as an alternative asset for investment and a game changer in the platform business.