Fintech giant Dunamu pioneers Web 3.0 market

Sparked by the emergence of ChatGPT, companies are vying to lead the rising Web 3.0 market. With decentralization and ownership of private information at its core, Web 3.0 is expected to transform our daily lives in unprecedented ways.

Among the contenders, Dunamu, which operates the nation’s leading cryptocurrency exchange Upbit, is at the forefront thanks to its affluent know-how in blockchain technology. The firm has continuously launched new projects in non-fungible tokens (NFT) while collaborating with various firms.

One of the notable projects is its collaboration with HYBE. Last January, Dunamu joined forces with the entertainment behemoth to launch the joint venture Levvels. On its digital platform Momentica, fans both locally and internationally can exchange or enjoy various digital image cards of their favorite K-pop artists, including Seventeen, Le Sserafim, and Fromis—9. The transaction is recorded on the blockchain, verifying the authenticity of the card.

The project has led to tangible results. Since Seventeen’s first image card “Dream” was unveiled in February, the number of new members increased by 55 percent compared to the previous month. During the same period, the proportion of international members exceeded 60 percent as well. The platform is demonstrating its strength in the global market, having reached the No.1 spot in the entertainment section of the Japanese app store.

Dunamu’s metaverse platform 2ndblock is also setting innovative examples in the market. The company is hosting a campaign using its virtual forest, known as the 2nd forest, to highlight the importance of forest protection.

In March, 2ndblock was used for recovery efforts following a devastating earthquake in Turkey. Dunamu collected donations in bitcoin through the platform and delivered them to the Korean Committee for UNICEF.

At the same time, its blockchain research subsidiary, Lambda 256, is striving to foster an ecosystem that can commercialize blockchain technology. It has launched various services such as Luniverse STO and Luniverse NFT targeting the token securities and NFT markets, respectively.

Last October, it also partnered with LG Uplus, providing technologies related to the metaverse, NFTs, gaming and decentralized finance.