TL;DR Breakdown
• Dunamu’s crypto company, Upbit, has the most valued shareholders in the country.
• The partnership between Dumanu and Upbit will catalyze several NFT auctions based on K-Pop groups.
Recently, two large shareholders of the Dunamu company in South Korea became the country’s first billionaires due to their shares in 2021. Dunamu has been one of the leading cryptocurrency companies for more than four years, and it recently experienced a large scale among its shareholders.
At the beginning of November, the Hybe company bought over 2 percent of Dunamu’s shares. In this way, the firm would obtain a share in the crypto market after the boom presented by the crypto platform. Hybe intended to break into the NFT trading market alongside the crypto platform, and it is succeeding.
Since the crypto platform Dunamu partnered with Hybe, the value of its shares has risen. Since Hybe has reportedly bought around $400 million in stock, the company has made a profit of $17 billion, which may be due to NFT trading.
Dunamu is among the top South Korean crypto companies with the highest valuation, even ranking number one. This makes its main shareholders Kim Hyoung-Nyon and Son Chi-Hyung, the most envied millionaires in the country. Forbes magazine estimates that entrepreneurs have a net worth of between 300 and 500 million dollars in cryptos.
The Dunamu company’s main operator, Upbit, also has an impressive valuation, with partner Oh Moon-Suk being valued at about $800 million. The crypto exchange would enter the list of top companies that have gone through the regulations.
Hybe developments in the NFT space
According to reports, the Hybe company works with the Dunamu exchange to create and sell virtual images of the BTS group in the NFT space. The company is looking to take advantage of the virtual auction boom around for most of the year. The firm’s founder says that with Dunamu, they are developing a non-expendable collection that fans will enjoy.
The firm’s agent includes merging the experience of both companies to launch an NFT project enjoyable for everyone. Simultaneously, crypto adoption is increasing within the South Korean territory, bringing profits to Dunamu.
The company, through Upbit, has been characterized by offering the management of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Upbit also allows enthusiasts to make passive profits after investing and minting their money in cryptocurrencies like BTC.
While Upbit works to bring a great investment experience to South Koreans, the value in the tokens suffers a slight drop. Bitcoin, trading at $68,000 24 hours ago, plummets to $64,779 today, November 11, losing 5.33 percent.
