Cheil Worldwide joins hands with 'Smas', an artist specializing in NFT
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Cheil Worldwide is joining hands with SMATh, an artist group specializing in non-fungible tokens (NFT), to target the NFT market.
Cheil Worldwide announced on the 15th that it had signed a business agreement with Smas to strengthen its competitiveness in the intellectual property (IP) business.
Smas is an NFT professional group formed by five artists who deal with 3D design, stage art, and illustration. Artists belonging to Smas have participated in design work for companies and institutions such as Samsung Electronics, Chanel, Seoul Metropolitan City, and Incheon International Airport.
The two companies plan to jointly plan and develop NFT-based IP businesses and cooperate in marketing. A plan to produce props and costumes using Smas' NFT IP and sell them domestically and abroad or to appear in advertisements made by Cheil Worldwide is being discussed. In April of this year, Smas issued Nomad A to the NFT distribution service 'Clip Drops' and sold a total of 1,500 works. In the case of 'Smas Genesis' traded on the NFT exchange OpenC, the highest price reached 8.4 Ethereum ($23,537 at the time).
An official from Cheil Worldwide said, "We plan to expand cooperation with various partners in the tech sector, such as NFT and Metaverse."
