Cheil Worldwide, MOU with Global NFT Exchange 'Cyperly'
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Cheil Worldwide will join hands with NFT Exchange Cypherley to target the global NFT market.
Cheil Worldwide announced on the 25th that officials from the two companies met at Cheil Worldwide's Gangnam office on the 24th and signed a business partnership.
Cypherley is a global NFT exchange created by Lambda 256 which is a subsidiary of Dunamu, a blockchain and fintech company. Dunamu and Lambda 256 established "Upbit NFT," a domestic NFT exchange last year, and launched Cypherly, an overseas exchange, this year to target the global NFT market.
Based on this business agreement, Cheil Worldwide will plan and produce NFTs of advertiser brands, and Cypherly will play a role in developing and operating the NFT according to its own platform. In addition, the two companies plan to collaborate to introduce new types of NFT products and promote various marketing and IP (intellectual property) businesses based on this. In the past, advertising companies were mainly in charge of producing advertisements, but as the distribution process became important due to the activation of digital advertisements and NFTs, they also joined hands with NFT exchanges.
Given that Cypherley is a global exchange centered on the U.S., Cheil Worldwide's overseas subsidiaries and subsidiaries will also participate in the business partnership. Currently, Cheil Worldwide operates corporations in 45 overseas countries and has nine overseas subsidiaries, so it is expected that it will be able to collaborate with Cypherly in various ways when conducting NFT projects with overseas local companies.
An official from Cheil Worldwide said, "We expect synergy through collaboration with Cypherly, which is targeting overseas markets based on differentiated blockchain technology, and Cheil Worldwide's global network. We will continue to develop our NFT business capabilities through partnerships with NFT companies such as Cypherly."
