<p>South Korea’s top three leading telecommunications companies — SK Telecom (SKT), KT, and LG Uplus — are using non-fungible tokens (NFTs) to <a href="https://www.hankyung.com/article/2023102957791" rel="noopener noreferrer nofollow">boost their corporate environmental, social and governance (ESG) efforts</a> and engage younger audiences in their initiatives.</p><h2 id="header-0">KT’s Raon NFT project</h2><p>Earlier this year, KT launched an internal collaborative project between its device division and its blockchain division, KT MINCL, to issue profile picture (PFP) NFTs of its intellectual property — the feline character Raon. The project consists of four editions of NFT mintings, each with a different concept promoting mindful consumerism. 3,000 NFTs each were <a href="https://www.newspim.com/news/view/20230609000885" rel="noopener noreferrer nofollow">minted</a> for the first two editions back in December and June, and KT is gearing up to release the third edition soon, according to industry reports on Sunday (local time). A portion of the proceeds from the upcoming third edition sale will also be donated under the project’s name. Notably, all 3,000 NFTs from the first edition were sold out in just a minute.</p><p>KT has designed the NFT purchase system to encourage ESG-related activities. Buyers can receive items that reflect ESG values, such as bags from The Fair Story, a company that promotes fair trade products made by brands from developing countries. “We will continue to work with companies related to our ESG values to develop household products, miscellaneous goods, and more that are linked to NFTs,” KT said.</p><h2 id="header-1">LG Uplus and SKT’s ESG-led collaborations</h2><p>LG Uplus and SKT have followed suit by incorporating eco-friendly themes into their own blockchain technologies. In particular, SKT recently signed a business agreement with WinCL, a carbon credit marketplace encouraging carbon offset efforts. The deal aims to combine SKT’s NFT marketplace, TopPort, and WinCL’s carbon credit system to issue NFTs for companies that need help managing their ESG performance indicators.</p><p>On October 18, LG Uplus <a href="https://www.kgnews.co.kr/news/article.html?no&#61;766760" rel="noopener noreferrer nofollow">announced</a> that a select number of holders of its Moono Crew NFT will be the first to purchase NFTs from <a href="https://medium.com/&#64;coinness.gl/klaytn-and-incheon-citys-nft-project-set-to-bring-blockchain-to-the-public-e89660d6a5e9" rel="noopener noreferrer nofollow">the Incheon Heroes NFT collection</a> — a collection launched on the Klaytn Mainnet as part of Incheon City’s Incheon Universe Project, aimed at introducing Incheon’s natural, cultural, historical, and technological heritage, and motivating participation in eco-friendly activities from younger generations. The company had collaborated with Incheon and Lotte Home Shopping to promote and expand the ecosystem of the collection.</p>

Korean Telecommunications Firms Ramp Up ESG Efforts with NFTs

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