Back To Top

Hyundai E&C to issue non-fungible tokens for 75th anniversary

Major South Korean builder Hyundai Engineering & Construction Co. said Tuesday it will issue non-fungible tokens (NFTs) to celebrate the 75th anniversary of its foundation this year.

To that end, Hyundai E&C recently signed a memorandum of understanding with local digital entertainment provider Sandbox Network on mutual exchange and cooperation in the NFT-metaverse sector.

Hyundai E&C, the second-largest builder in Asia's fourth-largest economy, will become the first local industry player to participate in an NFT project.

NFTs refer to blockchain-based tokens that each represent a unique asset, like a piece of art, digital content or media. Metaverse is a broad term for a virtual world where people digitally interact with others.

A Hyundai E&C official said the new project will give the builder new capabilities for NFTs and the metaverse, and provide its customers with new experiences. (Yonhap)

MOST POPULAR
LATEST NEWS
leadersclub
padcast
Korea Herald Youtube
subscribe