Third Space Art Acquires Renowned Klip Drops NFT Marketplace

Third Space Art Acquires Renowned Klip Drops NFT Marketplace

Third Space Art Acquires Klip Drops Business from Ground X Seoul, South Korea - In a strategic move, digital art company Third Space Art (3space Art) has announced the acquisition of the popular Klip Drops business from blockchain technology company Ground X, a subsidiary of tech giant Kakao. This acquisition marks a significant expansion for Third Space Art in the non-fungible token (NFT) market. According to Yonhap Infomax, the two companies signed a Memorandum of Understanding (MOU) on September 29th, 2022. Ground X explained that the transfer of Klip Drops is part of a restructuring strategy, allowing Third Space Art to leverage its expertise in digital art and NFTs. Klip Drops is a renowned NFT marketplace that has facilitated the sale and trading of numerous digital artworks, collectibles, and other digital assets. Its integration into Third Space Art's portfolio enhances the company's ability to provide a comprehensive platform for NFT enthusiasts and creators. Third Space Art has expressed its commitment to supporting the Klip Drops community and continuing to offer a user-friendly NFT marketplace. The acquisition is expected to foster innovation and growth in the NFT sector, as Third Space Art brings its artistic vision and technological capabilities to the table.