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Lutra, a blockchain startup gets investment
Gyeonggi Center for Creative Economy and Innovation (GCCEI)-supported Lutra, led by CEO Seon Jong-yeop, has recently achieved dual success by securing seed investment from the GCCEI and joining TIPS (Tech Incubator Program for Start-up). TIPS is a private investment-led tech venture support project facilitated by the Ministry of SMEs and Startups.
A promising blockchain startup, Lutra specializes in developing Non-Fungible Token (NFT) solutions for customer management. The company, led by a founder who graduated from the Pohang University of Science and Technology, secured the NFT Innovation Award at the international IT exhibition, “CES 2023” in January. This achievement earned the founder the distinction of being the youngest recipient of the award and led to an invitation to President Yoon Seok-yeol’s “Luncheon with Digital Technology Innovation Entrepreneurs.”
During the 2023 Goyang International Flower Expo, Korea’s largest flower exhibition, Lutra showcased its “NFT Photo Booth.” This technology supports customer management and marketing for event organizers by integrating online and offline promotional content.
Furthermore, Lutra participated in the “2023 Seongnam World Taekwondo Hanmadang,” an event organized by Kukkiwon from July 22nd to 24th. The company introduced an enhanced version of its solution, an NFT photo card, and a customer management solution based on the badge system.
Seon Jong-yeop, CEO of Lutra, commented, “Lutra has transformed NFTs into a medium that bridges brands and consumers, rather than just serving as an investment vehicle.” He added, “Any company utilizing Lutra’s NFT solution for customer management can easily construct a blockchain-based system, reducing customer management costs while optimizing marketing effectiveness.”
In 2021, Lutra moved into the Startup Zone operated by the GCCEI. The following year, it was named a “steppingstone” company for the startup growth technology development project and was chosen for the “2022 Global Star Venture” program, part of the startup overseas expansion support project. Lutra’s recent accomplishments include winning the CES Innovation Award, joining TIPS, and continuing to expand its business through various GCCEI accelerator programs.