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Cryptocurrency7 hours ago (Nov 20, 2021 02:20AM ET)

South Korea’s leading blockchain facing greater competition in NFT market

South Korea’s nonfungible token (NFT) space has rapidly expanded throughout 2021 led by the growth of crypto and NFT services offered by Kakao, but competitors are entering the fray.

The NFT market in South Korea could be on a path for even more expansion following the Nov. 5 government ruling that NFT purchases will not incur taxes.

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