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South Korean telecom giant KT shuts down NFT platform, citing business conditions

KT Corporation, the South Korean telecommunications giant with over $32 billion in total assets, is closing down its non-fungible token platform, MINCL, as of March 4. The company cited “shifting business conditions” as the reason behind the closure of the platform, operated under the group’s digital transformation subsidiary KT Enterprise. The announcement guided holders of KT Wiz Rookie Pack NFTs — its digital card collectibles commemorating the company-owned professional baseball team — to transfer the NFTs to e-wallets outside of MINCL. Users will not be able to view or download any remaining NFTs past the service conclusion date.

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