SEOUL, South Korea--(BUSINESS WIRE)--ELYSIA, a blockchain project specializing in real estate tokenization and securitization, has signed a cooperation agreement with Galaxia Metaverse, a subsidiary of Hyosung Group, which is one of the largest businesses in South Korea.
Through this cooperation, Galaxia Metaverse commits to support sales by registering RWA (Real-World Asset) provided by ELYSIA through the NFT marketplace MetaGalaxia, and ELYSIA commits to provide RWA with transparency and proof of guarantee of data verification and stake distribution on the blockchain.
Both companies agreed to share their know-how on product planning and commercialization so that RWA can be safely sold within the system. The ELYSIA team will continue to make efforts to expand its business through various partnerships in the future.
ELYSIA is a real-world asset tokenization project. It is a protocol that makes real-world assets into RWA so that they can be used on the blockchain, and RWA created in ELYSIA can be used in ELYFI, another service of ELYSIA. ELYFI is ELYSIA's DeFi service based on real-world assets. In ELYFI, real-world asset owners can raise funds by borrowing RWA as collateral or by selling RWA.
MetaGalaxia, an NFT Platform, intends to create a business ecosystem to provide a reliable and sustainable NFT environment to various creators and buyers. The GALAXIA(GXA) is a blockchain-based platform centered on rewards and payments that can be applied to real life. MetaGalaxia provides a reward that users can receive when they are purchasing NFT within the platform. The user can conveniently view or purchase various NFT works through linking with the platform. The platform plans to conduct an RWA project that enables diversified investment by purchasing real estate and art, which are valuable assets that actually exist, where users can pay with GALAXIA(GXA).