In the NFT sector, South Korea’s top blockchain is facing more competition.

  • 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.
  • As South Korean NFT collectors become more accustomed to global NFT trends, alternatives, such as Ethereum layer-two scaling network Polygon, present a potential threat to Klaytn’s dominance.
  • Korean NFT enthusiast Karl Hyun also feels that Polygon is better suited for the NFT market than Klaytn.
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