Neofin signed a business agreement with Metabit, a fan to earn (F2E) non-fungible token (NFT) platform, and plans to strengthen its blockchain business using entertainment intellectual property rights (IP).
Both companies plan to actively utilize Enter IP to lower the public entry barrier to blockchain and expand its base to lay the foundation for popularization. We plan to cooperate across business areas, including exchanging information on core technologies and services, such as multi-chain network support, and expanding the token ecosystem.
Metabit, scheduled to be launched in the fourth quarter, is a service that distributes music content IP in the form of NFT using blockchain technology. As a representative example, works using the artist’s portrait rights or fan art are issued as NFTs, and mutual transaction functions are also supported through its own marketplace.
We plan to build a F2E ecosystem that provides various forms of compensation to artists and fandom. To this end, a joint project was launched with a total of 9 companies, including RBW, which includes Oneus, Oh My Girl, Mamamoo, Woori Net, Contents X, Studio Jam, WM Entertainment, DSP Media, TR Entertainment, Beats Entertainment, and J Storm. A strategic partnership has been concluded for .
In addition, we plan to link the Neopin wallet after the launch of the Metabit service so that NFTs of artists who have built global content power and a strong fandom can be seen on the Neopin platform. The strategy is to actively expand users by establishing a virtuous traffic cycle between the F2E ecosystem and the Neofin DeFi platform. DeFi products related to Beat tokens, Metabit’s key currency, will also be launched in the future.
Metabit further accelerates the transition to Web 3 for the entertainment industry’s Web 2 fan base through blockchain technology cooperation with Neofin, and implements security-related policies such as Know Your Customer (KYC) and Anti-Money Laundering (AML) introduced by Neofin. We plan to improve platform transparency through exchange. We also cooperate extensively with Neofin on building a business model that connects music IP and NFT.
Last September, Metabit collaborated with global exchange Crypto.com NFT to issue the ‘Mamamu NFT Special Collection’, which was sold out. In addition, GBIC, GSR, NGC Ventures, AC Capital, KuCoin Labs, Finngram, BCi, Nexus One, Alchemic Investment , Alphanonce, and Digi Finex, and have joined hands with famous domestic and foreign investment institutions, and are expected to be listed on global exchanges and launch services in the fourth quarter.
Neofin, a blockchain open platform, is connecting and expanding the ecosystem with games, metaverse, services, NFTs, etc., focusing on various DeFi services such as staking, yield farming, and swap. In particular, the company is strengthening its open platform profile by announcing a large-scale onboarding plan for 15 blockchain projects, including 4 games, 1 metaverse, 7 services, and 3 NFTs. Neofly, the parent company of Neofin, is a subsidiary of Neowiz Holdings.
Kim Ji-hwan, CEO of Neofin, said, “Through the business agreement with Metabit, Neofin will be able to utilize entertainment IPs with high global content power,” adding, “Through K-pop related IPs such as Mamamoo and Oh My Girl owned by Metabit, “We will expand Neofin’s global influence and popularize blockchain services in earnest,” he said.
Stephanie Kim, CEO of Metabit, said, “Compliance and technical safety are top priorities in building a multi-chain environment that is easily accessible to users, so we proceeded with this partnership with Neofin,” adding, “We will provide transparency to Metabit holders in the future.” “We will develop and introduce Neofin and various service models to provide various benefits.”
Source: Pangyo Techno Valley Official Newsroom
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