A new Blockchain-integrated rewarding program has been launched by Hanryu Bank’s worldwide fandom networking platform, FANTOO, which awards virtual assets depending on the contribution ratio of fandom activities. Nowadays, fangirling or fanboying, which are both terms for fandom activities, may generate income. By partnering with blockchain, it has been possible to create new fandom activities as well as a matching rewards system.
This follows the announcement of Hanryu Bank’s IPO promotion for listing on the NASDAQ in the United States on the 22nd, and Hanryu Bank has stated that it will officially submit listing-related documents to the United States Securities and Exchange Commission and hold a face-to-face roadshow for its IPO in the United States on the 23rd.
As a result of the partnership between FANTOO and blockchain, the number of subscribers and downloads for the FANTOO reward system is fast expanding. This is due to the synergy produced by the increasing value of FANTOO. When users participate in community activities like as submitting content or hitting the “like” button, they may earn KDG (a stable token that circulates in FANTOO), which can then be traded for the governance token KDC.
It is possible to convert KDG into KDC using FANTOO BANK, and KDC may be exchanged on a number of publicly traded platforms. Due to the fact that KDC has been officially listed on the worldwide exchanges LBank and XT.COM, it is now possible to get money through fandom activities.
Furthermore, conversations are now ongoing with key local and international exchanges about the possibility of launching the governance token KDC on other exchanges, with a further listing of KDC expected for later this year. It is possible to utilise KDG on a variety of Hanryu Bank platforms, including the simple payment platform ‘FANTOO BANK PAY’ and the relaying NFT platform ‘FANTOO NFT,’ among others.
Because it is founded on the Korean Wave fanbase, it intends to enable not only local but also international users to access it from anywhere in the globe without having to worry about boundaries. The advertising revenues of the FANTOO platform are deposited, and KDG is issued in an amount equal to the remaining 50 percent of the profits and divided evenly among the platform’s users.
“While existing content platforms such as YouTube only reward creators, FANTOO will be the first case in which not only creators but also consumers will be rewarded as contributors to the community by giving rewards to community participants,” said a Hanryu Bank official, explaining the bank’s motivation and background for collaborating with blockchain technology.
In addition, it was stated: “The NASDAQ listing in the United States will provide a chance for our worldwide Korean Wave platform FANTOO to promote itself in the United States market while concurrently becoming the global Korean Wave platform. And, in order to meet the expectations of our users, we will move forward with the listing process as quickly as possible, allowing us to continue to invest in and upgrade various contents and services.”
Meanwhile, as FANTOO progresses toward global service as a social networking platform for 100 million global fans all over the world, global users will be able to more conveniently communicate with one another and participate in fandom activities thanks to an in-time translation function built into all of the services.
