The bank card arm of Hyundai Motor Group, “Hyundai Card,” has entered a three-way partnership with programming training startup “Like Lion” to launch a non-fungible token (NFT) marketplace and to offer digital wallet services in the second half of 2022.
The joint venture dubbed “Modern Lion,” derives its name from both companies as “Hyundai,” when translated, means modern. It will mint NFTs primarily based on Hyundai Card’s property.
“When important companies and startups are working for a joint venture, they have to be willing to work together on an equal footing,” said Chang Tae-young, VC and CEO of Hyundai Card. Duhee Lee, CEO of LIKE LION, added:
We are doing our best to make Modern Lion an influential NFT player and gain a leading position in the global market.
According to a 2021 statistic, Hyundai Card is South Korea’s fourth-largest credit card company, with about US$324 million in working earnings. The firm posted job openings for individuals with experience in NFTs and blockchain technology earlier this year, indicating its interest to expand into the emerging sector.
South Korean tech startup Like Lion was founded in 2013, it boasts several blockchain-led merchandise, including NFT profile image assortment MetaKongz. It offers programming education to non-professionals so they can develop their own web services.
This isn’t the first time the two companies are working together. They previously collaborated to launch a restricted MetaKongz NFT assortment on OpenSea in April 2022.