{"id":44969,"date":"2021-10-21T16:58:50","date_gmt":"2021-10-21T09:58:50","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=44969"},"modified":"2021-10-21T17:13:07","modified_gmt":"2021-10-21T10:13:07","slug":"kbtgs-kx-launches-coral-marketplace-platform-for-nfts","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/kbtgs-kx-launches-coral-marketplace-platform-for-nfts\/","title":{"rendered":"KBTG\u2019s KX launches Coral marketplace platform for NFTs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Kasikorn X (KX), a company under Kasikornbank\u2019s tech arm KBTG, has launched a new online marketplace for unique digital data known as non-fungible tokens (NFT) targeting Asian artists and brands, as well as art collectors from around the world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With its Coral platform, KX aims to shift the power of decentralized finance, or DeFi, into the hands of the mass, as NFTs constitute a new opportunity for people to create new assets in the digital world.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/02\/06\/2021\/28277\/\" target=\"_blank\">Praram 9 Hospital joins KBTG in launching COVID-19 HMS to help serve coronavirus patients<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/12\/04\/2021\/20643\/\" target=\"_blank\">KBTG launches Tech Kampus to build national ecosystem for technology and tech talent<\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, this can lead to the birth of a new world, new economic system, and new occupations in a future form of the Internet known as Metaverse.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thailand\u2019s NFT market has seen a triple-digit growth a year. However, the beauty of NFTs goes beyond its value and market growth. They also help to create new industries, allowing people to access good assets and own fine art works.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, NFTs are not limited to arts and collectibles \u2014 businesses and brands may come up with a variety of creative applications.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"397\" src=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e28\u0e34\u0e25\u0e1b\u0e34\u0e19-1.png\" alt=\"NFT Artists\" class=\"wp-image-44804\" srcset=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e28\u0e34\u0e25\u0e1b\u0e34\u0e19-1.png 800w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e28\u0e34\u0e25\u0e1b\u0e34\u0e19-1-300x149.png 300w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e28\u0e34\u0e25\u0e1b\u0e34\u0e19-1-768x381.png 768w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e28\u0e34\u0e25\u0e1b\u0e34\u0e19-1-696x345.png 696w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e28\u0e34\u0e25\u0e1b\u0e34\u0e19-1-324x160.png 324w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Thanaarmates Arriyavat, head of Venture Builder at Kasikorn X<\/strong>, says KX has a mission to \u201cbuild trust in a trustless world\u201d by safely creating simple goods and services for large numbers of people.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Coral is an NFT platform that is easy to use for making purchases, sales and payments, he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The platform is designed for people with no prior knowledge of NFT. KX claims each NFT purchase can be made with no more than 10 clicks, or within five minutes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Artists can offer their works for sale with three simple steps \u2014 uploading the digital file of their work, setting the price, and allowing the platform to \u201cmint an NFT\u201d from their art work.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf you know how to sell things in social media, you can do the same on Coral,\u201d Thanaarmates said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He added that Coral allows participating artists an immediate access to millions of prospective buyers from around the world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Buyers can make their payments with credit or debit cards and through mobile banking. Coral allows buyers to create their collections and display their NFTs in multiple ways, according to Thanaarmates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Unlike other NFT platforms, Coral charges no upfront cost incurred from converting physical art works into digital files. Coral adopts the Lazy Minting concept, which means NFTs are minted only after their sales are completed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also, Coral tackles a typical pain for NFT collectors \u2014 the fact that they cannot be sure whether the items they bought are original. Under the Coral platform, collectors can be assured that all NFTs offered for sale here are genuine and in line with the international Ethereum standard.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The buyers own the rights to the NFTs that they purchase in three areas: DeFi digital wallet, copyright and trademark.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/Artists.jpg\" alt=\"Artists - NFT \" class=\"wp-image-44802\" srcset=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/Artists.jpg 800w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/Artists-300x200.jpg 300w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/Artists-768x513.jpg 768w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/Artists-696x465.jpg 696w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/Artists-629x420.jpg 629w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Coral\u2019s target groups<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Coral sets its sights on NFT collectors all over the world as well as artists and brands, particularly in Asia.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The platform has a future plan to accept payments with digital currencies, including the Coral currency on the Ethereum Chain. At present, cryptocurrencies are not accepted, and payments can be made with fiat money only.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAt Coral, artists and brands need to upload only their original art works. We want to inspire Thais to transform into artists, and we want to promote local artists,\u201d Thanaarmates says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Initially, Coral only allows NFT purchases for collection. In the next stage, owners can also offer their NFTs for sale on the platform.<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here, artists and brands can advertise, promote and sell their works of art to people around the world. In the next stage, they can also charge the royalty fee for the future commercial use of their NFTs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nine Thai artists have joined the Coral platform: Lactobacillus, Tikkywow,&nbsp;Songsin Tiewsomboon, Ekachai Milintapas, Puntita Meeboonsabai, Benzilla, Pomme Chan, IllustraTU,&nbsp;and&nbsp;Jiggy Bug.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Coral\u2019s business allies are entitled to innovation, technology and a business model that involves co-creation and re-imagination for concrete results.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The heart of Coral is engagement between artists, their fans and brands, featuring online and off-line activities.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"427\" src=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u200bAlex-Winter.jpg\" alt=\"\" class=\"wp-image-44796\" srcset=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u200bAlex-Winter.jpg 640w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u200bAlex-Winter-300x200.jpg 300w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u200bAlex-Winter-630x420.jpg 630w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><figcaption><strong>Axel Winter, Siam Piwat\u2019s chief digital officer<\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Siam Piwat is Coral\u2019s first ally<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Siam Piwat Group, which operates Bangkok luxury malls including Siam Paragon and Icon Siam, has agreed to serve as a connection between Coral and its network of artists.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Axel Winter, Siam Piwat\u2019s chief digital officer,<\/strong> said the NFT platform serves as a new source for earning incomes through art works, as well as other products like games, songs, videos and books.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For him, this is a community for people who love digital arts. He added that understanding NFT can bring numerous benefits to consumers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Coral is now open for business allies that are in the industries of retailing, entertainment, tourism and lifestyle, among others. Those interested may contact: coralworld.co or contact@coralworld.co.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">KBTG\u2019s previous chapter<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">KX and Coral represent the \u201cnext chapter\u201d of Kasikorn Business Technology Group (KBTG) while being the latest proud product of its \u201cprevious chapter\u201d, says <strong>group chairman Ruangroj Poonpol<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kasikorn X is an S-Curve venture builder established in 2018, creating Kubix as its first spin-off, KTech to oversee KBank\u2019s operations in China, and Coral as its latest spin-off.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e40\u0e23\u0e37\u0e2d\u0e07\u0e42\u0e23\u0e08\u0e19\u0e4c-\u0e1e\u0e39\u0e19\u0e1c\u0e25-.jpg\" alt=\"\" class=\"wp-image-44799\" srcset=\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e40\u0e23\u0e37\u0e2d\u0e07\u0e42\u0e23\u0e08\u0e19\u0e4c-\u0e1e\u0e39\u0e19\u0e1c\u0e25-.jpg 800w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e40\u0e23\u0e37\u0e2d\u0e07\u0e42\u0e23\u0e08\u0e19\u0e4c-\u0e1e\u0e39\u0e19\u0e1c\u0e25--300x200.jpg 300w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e40\u0e23\u0e37\u0e2d\u0e07\u0e42\u0e23\u0e08\u0e19\u0e4c-\u0e1e\u0e39\u0e19\u0e1c\u0e25--768x513.jpg 768w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e40\u0e23\u0e37\u0e2d\u0e07\u0e42\u0e23\u0e08\u0e19\u0e4c-\u0e1e\u0e39\u0e19\u0e1c\u0e25--696x465.jpg 696w, https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2021\/10\/\u0e40\u0e23\u0e37\u0e2d\u0e07\u0e42\u0e23\u0e08\u0e19\u0e4c-\u0e1e\u0e39\u0e19\u0e1c\u0e25--629x420.jpg 629w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption><strong>Ruangroj Poonpol<\/strong>, chairman of Kasikorn Business Technology Group (KBTG)<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">KBTG is a group of tech firms serving as the supporting technological platform for Kasikornbank, having spun off from the bank since 2016. It spent the first three years laying its foundation and the next three years (2019-2021) for transformation and growth during the \u201ccrisis of the century\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">KBTG, which is growing with synergy, has more than 2,000 employees who are collectively regarded as the group\u2019s most important asset, according to Ruangroj.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The group has seen a strong growth, having executed technological&nbsp; modernization, doubled capability and efficiency, as well as expanding into the region.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt started with KBTGSec, which takes care of strategy, people, branding and cyber security. Then, it was KInfra, which deals with scalable technological infrastructure and infrastructure as a service for all of KBTG\u2019s companies and products,\u201d the group chairman said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cKBTG, in turn, supports KBank and its customers, overseeing the infrastructure that takes care of more than 4 billion financial transactions each year,\u201d he added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Next, it is KSoft, a company of best-in-class agile software development team, with more than 1,100 software developers taking care of over 400 mobile applications. Also, there is a team of leading software designers like Beacon Interface, which has KLabs responsible for deep tech research, making innovations and co-innovations, as well as dealing with artificial intelligence (AI) and data science.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">KBTG creates technologies that empower KBank\u2019s digital channels, particularly K Plus, which is a leading mobile banking app in Thailand and the Asia-Pacific region. Also, there are Line BK social banking service, which has more than 3.2 million customers, and KhunThong social chatbot, which boasts an online community of almost 1 million members.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, KBTG is credited for the digital lending technology on the K Plus app and its connection with allied ecosystems, contributing to a five-fold growth in the customer number.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe essence of KBTG is 3Ss \u2014 Speed, Scale and Synergy. KBTG takes care of KBank operations in many countries,\u201d Ruangroj concludes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kasikorn X (KX), a company under Kasikornbank\u2019s tech arm KBTG, has launched a new online marketplace for unique digital data known as non-fungible tokens (NFT)<\/p>\n","protected":false},"author":8,"featured_media":44971,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117,118],"tags":[1858,7856,10232,10233,10270,10271,10272,522],"class_list":["post-44969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-en","category-the-story-special","tag-kbank-2","tag-defi-2","tag-coral-2","tag-kasikorn-x-2","tag-nft-2","tag-non-fungible-tokens","tag-siam-piwat","tag-kbtg-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KBTG\u2019s KX launches Coral marketplace platform for NFTs - The Story Thailand<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thestorythailand.com\/en\/kbtgs-kx-launches-coral-marketplace-platform-for-nfts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KBTG\u2019s KX launches Coral marketplace platform for NFTs - The Story Thailand\" \/>\n<meta property=\"og:description\" content=\"Kasikorn X (KX), a company under Kasikornbank\u2019s tech arm KBTG, has launched a new online marketplace for unique digital data known as non-fungible tokens (NFT)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thestorythailand.com\/en\/kbtgs-kx-launches-coral-marketplace-platform-for-nfts\/\" \/>\n<meta property=\"og:site_name\" content=\"The Story Thailand\" \/>\n<meta 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