According to ChainCatcher, digital art company 3space Art announced the signing of a memorandum of understanding (MOU) to acquire the Klip Drops business of Kakao’s blockchain company Ground X.

Through this acquisition, 3space Art will utilize Klip Drops’ technology and infrastructure to promote the development of the digital art industry, strengthen support for Korean artists, and promote the activation of the digital art market.

Klip Drops is a digital art sales and distribution platform founded by Ground X in 2018, introducing curated galleries of artists in various fields such as painting, sculpture, and media art.