Many tech firms are increasing their attain into the web3 market, integrating blockchain and web3 applied sciences into their services. Within the newest growth, South Korean web large Naver is launching its first digital asset pockets, Naver Pay Pockets, for the Korean market. It’s partnering with Chiliz, a blockchain supplier for sports activities and leisure, because the inaugural blockchain for the pockets.
Naver Pay is a cellular cost service from Naver. With its new crypto pockets, Naver Pay Pockets, the corporate is providing a non-custodial pockets, which means customers straight management their non-public keys and digital belongings.
“The Naver Pay Pockets is just not aiming to change into a typical crypto pockets, however a service round utility and loyalty blockchain expertise,” founder and CEO of Chiliz Alexandre Dreyfus stated in an interview with advasky.
In South Korea, greater than 97,000 on-line and offline retailers use Naver Pay, a cost service that began its life on Naver’s e-commerce platform Naver Procuring. The digital asset pockets serves as a precious testing floor for potential loyalty applications for retailers on Naver using Chiliz blockchain expertise, Dreyfus advised advasky.
Naver’s digital belongings pockets, which is in beta, permits 33 million customers to handle their digital belongings and allow customers to retailer NFTs. It would additionally add different functionalities, reminiscent of integration with decentralized apps, fan tokens and a loyalty program for Naver’s service provider community, Dreyfus famous.
“The goal prospects are tech-savvy South Koreans who’re already utilizing Naver Pay for digital transactions and are keen on exploring blockchain expertise, notably within the realms of sports activities, leisure and digital belongings,” Dreyfus stated.
Naver Pay Pockets can compete with different Korean digital cost platforms which are exploring blockchain integration. Nonetheless, Naver’s huge consumer base places it in a robust place to dominate the market and change into the “Google Pay / Apple Pay” of South Korea, Dreyfus defined. Its user-friendly platform will decrease the barrier to entry for blockchain expertise, accelerating mainstream adoption, Dreyfus added.
The pockets will assist the Chiliz Chain as its first blockchain — the strategic partnership between Naver and Chiliz doesn’t contain a direct funding, Dreyfus famous. Naver may add assist for extra blockchains in future Naver Pay Pockets updates.
