A report by Market Research projected that the NFT market will hit $7.63 billion by 2028 at a compound annual growth rate (CAGR) of 22.05% from $1.59 billion in 2021. In another development, Business Wire projected that the metaverse market will hit $224 billion by 2030. With the obvious huge market potential, many projects have exploited the market opportunity.
However, quite a few of these projects are out for the good of their community and to revolutionize the industry. One of such great products is the Meta Kongz, a post metaverse leading company.
An overview of Meta Kongz
Mega Kongz is an NFT project that is built on the Klaytn blockchain protocol. The project was developed by Kakao, the company that also created one of the most widely used chat messenger apps known as KakaoTalk. Mega Kongz is led by the Kong team and Lee Doo-hee, the CEO of Like Lion. They aim to globalize the K-NFTs and the K-POP Korean Wave.
The Meta Kongz is made of 10,000 profile pictures (PFPs). They have been gaining massive popularity because they not only enjoy the financial benefits, but they also benefit in the metaverse world. The first 3,000 mintings completely sold out in the space of 32 seconds. This shows the popularity of the NFT project and the eagerness of people to become a holder of the Meta Kongz NFTs. The second minting of 3,000 was sold out in 5 seconds, while the third minting of 3,500 was sold out within 6 seconds.
The Meta Kongz NFT has steadily maintained the NO.1 position in the Klaytn chain on Opensea. Its floor price on the Opensea marketplace is 6ETH. At the current price, people can mine up to 4 MKCs per day and earn about $1,200 in a month. Utilities such as Breeding System, DeFi System, and KongzShop are all available to Mega Kongz NFT holders.
Although the Meta Kongz NFT project is currently deployed on the Klaytn blockchain, the team plans to expand to the Ethereum blockchain in the future. The expansion will play a vital role in the globalization strategy of Meta Kongz. The governance voting was recently concluded, and the decision was for the project to migrate to the Ethereum blockchain as it is difficult for non-Korean to gain access to the Klaytn network.
Meta Kongz Strategic Partnerships with Big Companies
As Meta Kongz gets ready to jump into the ETH market, the team has been very strategic in their partnership deals. They recently entered into a partnership deal with Hyundai, the biggest motor company in Korea. The motor company is creating NFT projects and MOU with Meta Kongz. Hyundai became the first automobile company to enter the NFT community-based market with the partnership deal. There are currently 30 limited editions of NFT for the partnership.
The project also entered into a partnership deal with the Shinsegae Group, one of the biggest department franchises in Korea. The company is also known to be the largest distribution corporation in Korea. The MOU with the Shinsegae Group will produce 10,000 PFP with real-life utilities. The minting will be live in June 2022 with great benefits to holders.
Conclusion
Although Meta Kongz is relatively young in the NFT market, it has generated great waves across the industry. Its partnership deals with companies like Hyundai and Shinsegae Group prove that they are out for business. If there is a top list of NFT projects with huge potential, Meta Kongz undoubtedly will be on that list. The team has done amazingly well to grow the community within Asia, and with the migration from Klaytn to the Ethereum blockchain, Meta Kongz will become global. You can visit the Meta Kongz website for more information and details about the project.
