The 2022 NFT market report released by Market and Research projected that the market will grow by $147.24 billion between 2022 and 2026, at a compound annual growth rate of 35.27% within the forecast period. With the rising market growth, Klaytn Foundation is working to ensure the Asian bloc is not left out. 

To achieve that, the Foundation has entered into a partnership deal with OpenSea, the pioneer NFT marketplace. The partnership aims to draw global attention to the innovative non-fungible token projects launched in Asia. 

Details of the Partnership deal

According to David Shin, who is leading the global adoption charge at Klaytn Foundation, the collaboration with OpenSea will be instrumental as Klaytn aims to become the blockchain protocol for the metaverse. David Shin also went further to reveal that the agreement presented opportunities for Klaytn to support more innovative projects and tools that can help to scale the Klaytn blockchain ecosystem in Asia and globally. 

The collaboration also involves access to business grants which will help sustain the expansion of the NFT community, particularly in Asia. It will also help support NFT projects within the Asian bloc to enjoy global visibility. 

Overview of the Klaytn Foundation

Klaytn is a blockchain network designed for developers who wish to build or play in the virtual metaverse world. Klaytn Foundation is a non-profit organization charged with the task of promoting global adoption and utilization of the Klaytn protocol.

Klaytn Foundation has its headquarters in Singapore, from where it focuses on:

• Continuous development and scaling of the Klaytn blockchain protocol 
• Growing a viable global ecosystem by investing in quality blockchain projects
• Integrating blockchain technology with the real world. 

An Overview of OpenSea

OpenSea is the pioneer and largest marketplace that allows users to buy and sell non-fungible tokens in a trustless and secure manner on the blockchain. It was founded in 2017, with its headquarters in the United States. It is a decentralized marketplace for users to buy and sell non-fungible tokens. OpenSea also offers multichain options to users. Leading businesses like Blockchain Capital, Y Combinator, Coatue, A16z, Coinbase Ventures, and Founders Fund all have investment stake in OpenSea. 

Conclusion

Klaytn Foundation, in collaboration with OpenSea, is repositioning the Asian NFT market and launching it into the global limelight. Project developers can easily access and utilize the tools and resources available on the platform. Its blockchain infrastructure serves as a bridge that brings the metaverse world to the real world. You can visit the official website for more information about the partnership.