NFTs Continue To Field Increasing Relevance In Asia As Toomics Set Out To Host TooNFT
South Korea’s largest webtoon company and community, Toomics, is gearing up to host blockchain leveraged TooNFT.
This development came in a joint announcement by the TooNFT team and Toomics spokesperson on Thursday. The former highlighted the project’s dedication to delivering quality webtoon comics globally. The latter expressed the enthusiasm of bringing the innovative Blockchain technology for adaptation to make the TooNFT project a leader in the NFT industry.
The increasing relevance of the Non-fungible token (NFT) industry in Asia is reflected in the conversion of the TooNFT project to a Decentralized project from its prior centralized position.
The TooNFT project’s Decentralization was facilitated by its successful private fundraiser that reportedly generated up to $1.75 million in capital for the project. According to an official announcement, HG global ventures led several famous and prominent institutional entities and investors in the private round. Other investors that participated include Adaptive Labs, Alphabet, Mindfulness Capital, GBIC, and Prestige Fund.
The project and the webtoon company, Toomic, now share a master-affiliate relationship, whereas Toomic currently stands as one of the biggest webtoon service providers globally. It currently hosts over 50 million active users and 10 million mobile apps utility, a testament to its quality service delivery.
According to press release post fundraiser, the TooNFT stated that it plans to utilize funds acquired in the private round to adapt efficiently
tech innovation into the anime industry in the form of blockchain leveraged technology to develop a fully matured and self-sustaining NFT ecosystem in the said industry.
Toomic’s Background Information
The TooNFT is an affiliate of Toomics, a globally famous webtoon company that operates out of South Korea. The webtoon is a specific type of comic that originated from South Korea, and it is primarily developed for digital purposes-smartphones and tablets. Like the Japanese manga that saw exploded infamy globally in the early 2000s, that Korean webtoon, also known as manhwa, is now enjoying international popularity, partly because of its digital nature.
The South Korean webtoon company is its flagship webtoon aggregator and distributor; it currently has over 50 million active users/subscribers globally with over 10 million mobile app downloads on Android and iOs devices.
Funded in 2015 with a raised capital of approximately $15 million, the company has grown since then to accommodate over 7 million active users monthly with increasing activity on its network, according to online stats.
Toomics is now easily recognized as a global leader in the comic community, having received many prestigious awards from established institutions.
TooNFT Pioneers The Advent Of NFTs In The Webtoon Industry Globally
The launch and subsequent integration of TooNFT into the webtoon industry is a pioneering endeavor.
This project enamors the vision of Decentralization and simplicity, its successful integration into the webtoon industry will effectively kickstart the NFT age in the industry. The advent will consequently initiate a snowball effect that will see more and more NFT adaptation pop up in the industry as the NFT industry continues to rear its relevance globally.
TooNFT’s primary goal is to bring technological innovation and economic power to webtoon and crypto users as a whole in the global decentralization race by creating an ecosystem that is designed to eliminate intermediaries and promote the P2P interaction format.
The capital injection of over $1.75 million explicitly tailored for the ToolNFT development will enable the development of Toomic’s webtoon NFT infrastructure. It will facilitate the integration of blockchain distributed ledger that will catapult the webtoon industry to a qualitative evolution.
By featuring blockchain innovations, regular users will be able to invest easily without facilitation from any third party. Transparency, staking features, and safe service provision are guaranteed in the new framework.
The TooNFT is a first of its kind globally; it is the first decentralized webtoon platform and a pioneer in the industry as the decentralization race rages on.
Most in the community highly anticipated the project’s prospects as it breaches the gap between business and pleasure for all anime fans. Webtoon fans in the community took to Twitter to express their excitement about this new development. Some cited sit home and earn jobs, stating that they could indulge in the webtoon universe all year long and still make a lot of money in the industry.