According to Chosun Ilbo, some of South Korea's largest consortiums, including SK Group, LG CNS and CJ Group, may face huge losses on their investments in NAEMO Market, the NFT trading platform of Bithumb Meta, Bithumb Meta's subsidiary. The NAEMO market has been in the red since its inception, although it received 17 billion won from Bithumb Meta parent company Bithumb Korea and attracted nearly 10 billion won (about $7.30 million) of investment from the aforementioned large companies.
However, with the NAEMO market set to close on June 30, these investments will be wiped out and the consortia of South Korean companies could collectively lose nearly 10 billion won.
Several large South Korean companies face a total loss of about $7.30 million in their investment in Bithumb's NFT market
2024-06-05 03:32:13
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