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Korbit, a bitcoin (EXANTE: Bitcoin) exchange, has launched its own marketplace for non-fungible tokens (NFT), The Korea Herald has learned. Thus, Korbit became the first cryptocurrency exchange to launch an NFT marketplace in Korea.

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The exchange said that NFT creators can publish their tokens for sale, and potential buyers can then bid for the NFTs. All transactions are based on the Ethereum network.

"The local NFT market is still in a fledgling stage, compared to global ones, and the Korbit platform will help create synergy between the blockchain ecosystem and various sectors, including art, visual media and gaming," said Oh Se-jin, Korbit CEO.

South Korea Moves Forward in the Development of its Digital Currency

As iHodl earlier reported, the US video game and console retailer GameStop also plans to launch its own NFT platform. It is expected that the company's new platform will be built on the Ethereum blockchain. The company also plans to issue its own GME token.

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