Entertainment and nonfungible token marketplace TriumphX has signed a memorandum of understanding (MOU) with fast-food giant KFC in South korea.

The agreement volition focus on joint blockchain research with the aim of integrating NFT technologies and enhancing the branding of the fried craven outlet.

Co-ordinate to reports in local media, KFC Korea plans to introduce blockchain and NFT engineering to its branding content. The fast-food franchise intends to effect NFTs to its customers comprising unlike digital formats including video, art and graphics, and metaverse collectibles.

TriumphX's NFT issuance know-how will be leveraged to create and sell KFC-themed NFTs to a customer base that is already familiar with the Kentucky Fried Chicken brand.

Fried chicken and KFC is popular in Republic of korea with more than 210 outlets nationwide. According to a 2022 SCMP report, in that location were more fried chicken restaurants in the land than there were McDonald's and Subway restaurants worldwide.

The cantankerous-chain TriumphX has partnered with a number of local artists and entertainment companies recently including decentralized entertainment market place XPOP, lensman Kim Jung Man, and cartoonist Rosa Fantasy.

Related: KFC Launches Blockchain Airplane pilot for Digital Advert and Media Buying

NFTs have exploded in popularity in 2022 resulting in $ii.5 billion in nonfungible token sales in the first half dozen months of this yr. This is a huge increase over the $13.7 million in sales for the same period in 2022.

Korea has not missed out on the NFT craze this yr. According to a Korea Times report on July 23, copies of a priceless manuscript detailing the origins and workings of the Korean writing organization will be sold as limited edition NFTs. The burgeoning K-pop manufacture is also looking to tap into nonfungibles to promote artists to doting fans.

Despite the need for NFTs and crypto in Korea, there has been an increase in regulation of the digital asset industry this twelvemonth as fiscal watchdogs come down hard on unregulated exchanges and marketplaces.

As reported by Cointelegraph yesterday, the government stated that crypto exchanges will face up punishment if they accept non voluntarily registered with the land's authorities by September 24.