[Alpha Biz= Kim Sangjin] Naver and Dunamu's jointly operated official NFT platform for the Korea Baseball Organization (KBO), "K-Collect," will shut down due to worsening profitability amidst the prolonged downturn in the NFT market.
According to Naver on Sunday, the K-Collect service will end on January 1st, 2024. Key services, such as NFT drops, mixing, and challenges, had already been suspended since June 26th. The K-Collect homepage, previously operated within Naver Sports' baseball section, and the Upbit-Naver account linkage service will remain available only until the service termination date.
New NFT issuances will be fully suspended, but the secondary trading service will still be available through Upbit's NFT marketplace, operated by Dunamu.
A Naver representative explained that the service closure is due to the expiration of the intellectual property (IP) partnership agreement with KBO clubs, making it unavoidable.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
