South Korean Telecom Giant Ceases NFT Operations

• The decision to close MINCL is due to changing business circumstances.
• Users holding KT Wiz Rookie Pack NFTs were advised to transfer them to external wallets.
• KT Corporation, a South Korean telecommunications giant, plans to close its NFT platform, MINCL, effective March 4, 2024.

KT Corporation, the telecommunications giant in South Korea with assets exceeding $32 billion, has announced the imminent closure of its non-fungible token (NFT) platform, MINCL. According to the announcement, the platform will be closed effective March 4, 2024.

The decision to close down the platform was attributed to changing business circumstances. MINCL has been operating under the digital transformation subsidiary KT Enterprise.

Launched just two years ago in April 2022, MINCL catered to both retail and institutional users, providing a platform for creating, trading, and storing NFTs. The platform was particularly well-known for its KT Wiz Rookie Pack NFTs, which served as digital collectibles honoring the KT Corporation-owned professional baseball team.

In an official service termination notice, KT Mincl expressed gratitude to its users for their patronage and explained …

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