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What’s Behind Klaytn?

Klaytn (KLAY) is a blockchain project from the South Korean internet giant Kakao.

By Finst News
• 3 min read
What’s Behind Klaytn?

Klaytn (KLAY) is a blockchain project from the South Korean internet giant Kakao. What can Klaytn do?

Klaytn is a global public blockchain platform developed by Kakao's blockchain subsidiary called Ground X. Kakao is, among other things, a major provider of a messaging app and a payment app in South Korea - Kakao has more than 50 million monthly active users.

With Klaytn, Kakao aims to create a service-oriented blockchain that offers an intuitive development environment and a user-friendly interface. This should make it possible for users with little blockchain or crypto experience to interact with Klaytn.

Klaytn teams up with OpenSea

Klaytn has a lot of promise, but unlike many other crypto projects, this one from Korea actually seems substantive. KLAY is being integrated more and more into Kakao's apps, giving it a huge user base. A press release also confirms that Klaytn is partnering with OpenSea. OpenSea is currently the largest marketplace for non-fungible tokens (NFTs) and supports NFTs on Ethereum as well as Klaytn NFTs. Devin Finzer, OpenSea's CEO, believes Klaytn will enrich the NFT space.

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