TooNFT plans to develop a decentralized webtoon platform. The project has raised a staggering $1.75 million in a private round supervised by HG Ventures.
The TooNFT project succeeds in attracting institutional investors such as Mindfulness Capital, Adaptive Labs, Prestige Fund, Alphabet, and GBIC. With the backing of such investors, TooNFT is set to become an incredible product. According to the press release, TooNFT will leverage the ecosystem of an immense profit-generating business model of Toomics, a South Korean Webtoon firm.
The affiliate of the TooNFT, Toomics has become South Korea’s leading subscription platform with 50 million active users and 10 million app downloads. TooNFT caters to an incredible NFT ecosystem and values bringing disruption that separates it from other webtoon service providers.
What is Toomics?
With 10 million app downloads and 50 million active users, Toomics has become the leading webtoon comics firm in South Korea. Toomics was founded back in 2015 accumulating $15 million from institutional investors to create the leading webtoon comics company in South Korea.
Over the past few years, Toomics has partnered with Tencent, KEB Hana Bank, GMarket, and AfreecaTV. It has also received multiple awards from reputable institutions. Furthermore, Toomics generates approximately $60 million yearly through its subscription service.
TooNFT Introduces NFT Concept in Comics and Webtoon Industry
TooNFT has been launched on Toomics to embrace the outlook of a decentralised future. TooNFT strives to alleviate the creative ecosystem and develop a financial framework where writers can attract investment without involving any middlemen.
As previously stated, TooNFT has amassed $1.75 in private and seed rounds from institutional investors. The project will develop a sustainable technology that will fill in the need for an ideal project in the webtoon industry.
The blockchain-fueled platform TooNFT will provide its users with secure, reliable, and easy access to invest in the project alongside staking opportunities and transparent data. TooNFT is set to become the first decentralized webtoon platform that operates on the blockchain.
It’s worth noting that Toomics is already a significant brand in the webtoon industry with 50 million users and 2.6 billion page views through its subsidiaries in the world including North America, Singapore, and Taiwan. The stage is all set for TooNFT to conquer and become the top blockchain-powered webtoon service.
Another aspect that might appeal to the community is that TooNFT will start its journey with 11 languages such as English, Korean, French, Spanish, and others.
In 2023, TooNFT intends to facilitate its users with P2P trading and investment opportunities after launching the next-gen NFT market. It also plans to allow users to trade NFTized content, investment opportunities, and fundraising without the interference of any third party. Most likely TooNFT will host content producers and numerous webtoon podiums in the future.
This article is Originally posted on CoinCentral.com