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Ongroo and Everscale join forces to develop South Korean NFT Marketplace

3 mins
Updated by Petar Jovanovic
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On February 28, South Korean art content agency Ongroo Inc. and Everscale officially agreed to jointly develop and launch an NFT marketplace based in South Korea.

Founded in 2012, Ongroo Inc. is South Korea’s leading art content creation company. The company, which has produced over 200 different projects, is teaming up with Everscale, the most technologically advanced blockchain in existence. Powered by an infinite sharding mechanism, Everscale adapts to any workload it is tasked with, without the size of the load affecting transaction times or processing fees.

Recently, Everscale announced that it had entered into a strategic partnership with Venom, a network with a strong foundation for central bank digital currencies (CBDCs) and Web 3.0 applications in the Middle East, North Africa, and other emerging economies around the world.

Ongroo Inc. and Everscale have already worked together to help realize Zyrazy, a blockchain art installation created by Peti Triot. Peti Triot’s installation is a kind of anonymous messenger where you can leave any message without it being able to be traced back to you. As soon as you send a text it is encrypted and stored on the blockchain. All messages are broadcast in real-time for anyone to see on YouTube, and archived simultaneously on the project’s Twitter.

The project has been going on over the past 70 days and has already featured over 10,000 unique messages. The physical part of the installation is centered in the world-renowned Hwroo art gallery located in the center of Seoul.

In the framework of the new partnership, the two sides agreed to jointly develop and launch a new NFT marketplace, which, in contrast with other marketplaces, will be designed to comply with all the requirements of South Korean lawmakers. Front-end design for the project will be handled by Korean artists curated by Ongroo and a team of developers from Everscale will build the technological foundations of the project.

Ongroo Inc. and Everscale plan to unveil the results of their partnership within the first half of the current year. The new NFT marketplace, created through the fusion of Korean artistic talent and the technological strength of the Everscal network will pave the way for innovation in the global art market.

Commenting on the new partnership, Everscale Foundation Board Member Moon Young Lee said, “Developing platforms and making inroads in South Korea has been one of Everscale’s central priorities over the past year. We’ve made a great deal of progress on this front and we anticipate the launch of this new NFT marketplace to further elevate Everscale’s presence in the country. Having worked with Ongroo before, we are confident that what we produce together is going to be of the highest quality.”

About Ongroo Inc.

Under its clarion call of ‘Romanticize the world,’ Ongroo Inc. solves the difficulties that face creators and focuses on establishing markets where artists can thrive and optimize their work. Ongroo Inc. works to allow animators, composers, performance planners and directors to harmonize and create a wide variety of media content, and has established a system for translating ‘planning & production’ to ‘distribution & sales.’

About Everscale

Everscale is a uniquely designed blockchain that proposes a scalable decentralized world computer paired with a distributed operating system. Everscale is based on a platform called Ever OS, capable of processing 64,000 TPS, with Turing-complete smart contracts and decentralized user interfaces.

Everscale has a number of unique features like dynamic multithreading, soft majority consensus and distributed programming, which enable it to be scalable, fast and secure at the same time. It is governed by a decentralized community founded upon meritocratic principles via the Soft Majority Voting protocol.

Over the past two years, Everscale has emerged as one of the biggest blockchains in Asia, with a thriving community and robust ecosystem of DeFi platforms. The network is currently rolling out a Korean campaign which will see it integrate itself with the South Korean economy and open new doors for Koreans into the world of DeFi and cryptocurrency.


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