What's Happening?
Seoul Exchange, one of two licensed platforms for unlisted securities in South Korea, has partnered with Story Protocol to exclusively use its blockchain for settling tokenized real-world assets (RWAs). This collaboration aims to bring programmable assets to Korea's $450 billion crypto market, focusing on tokenizing cultural IP such as K-pop royalties and K-drama rights. The partnership will leverage Story's Layer-1 blockchain and native token ($IP) to create a fully on-chain marketplace for previously illiquid assets.
Why It's Important?
This partnership represents a significant step in integrating blockchain technology into Korea's financial markets, potentially transforming how cultural and intellectual property is monetized. By tokenizing IP, Seoul Exchange and Story Protocol are unlocking new investment opportunities, making global cultural phenomena investable. This move could lead to increased liquidity and transparency in the trading of cultural assets, impacting Korea's position in the global crypto market and setting a precedent for other countries.
