An ecosystem that combines NFT and fandom community.
With the summer of DeFi in 2020, the NFT market has also begun to revitalize. NFT technology, which began to draw attention from Crypto Kitty, has promoted the emergence of many projects accompanied by use cases such as art, music, games, and metaverse. Recently, public interest in NFT has also increased as success stories such as Sandbox’s Land Sale and Axie Infinity’s Play To Earn have attracted attention. The representative platform that promoted the distribution of these NFTs is Open Sea, and it is encouraging that many digital artists have created profits by professionally producing digital art.
The recent success stories of ‘Crypto Punks’ and ‘Bored Ape Yacht Club’ have further aroused the market’s interest in the NFT market, which has just begun to bloom, and through this, “value” between communities has been formed and established as a culture. As famous investors or influencers changed their SNS profile photos to these NFT-type pictures, this culture spread further and a wide variety of digital art began to be mass-produced. Recently, as if reflecting this, Korean presidential candidates are implementing policies such as raising donations using NFT.
We paid attention to the changing community “culture” along with the NFT, and began to think of ideas that could connect this “culture” with “fandom,” an essential element of the entertainment market. As can be seen as a success story of BTS, fandom is a cultural area where a strong community can be built around the world, and there are infinite possibilities such as concerts, goods, contests, and the spread of related content.
The NFT market has grown rapidly from a market worth about $40.96 million in 2018 to a market worth more than $1 billion in 2021. However, compared to other crypto-related markets, including DeFi, the NFT market is still an early market.
Vision of Fanverse
In this changing and developing early NFT market, attempts are being made based on various ideas, and so far, we have found that there are not many projects linked to real fundamentals. These fundamentals should be the foundation for industries that create real value, and in this respect, NFT projects, including real game products that have recently emerged a lot, can be seen as more fundamental-based business areas. However, as explained above, the “fandom” area is also an area that has already created value in the traditional market. Therefore, we decided to launch a project with fundamental-based intrinsic value, focusing on “fandom,” “NFT,” “decentralization,” and “Web3.0,” and started the Fanverse project.
Our goal is to create a new value chain by intertwining keywords such as “fandom,” “NFT,” “decentralization,” and “Web3.0” through Fanverse, and to expand the value and market size of the entire entertainment market.
Fanverse platform
Fanverse is equipped with several key functions to connect the entertainment market and the crypto market. These functions were designed to create added value to other known entertainment markets such as famous artists and cartoons, along with support for decentralized fandom formation, value spread, and crowdfunding among early artists. We are planning to release the following features, focusing on ‘ownership’, ‘value’, and ‘differentiation’, which are the main features of Web 3.0.
- NFT casting and trading: This is a very basic function for the NFT platform. Artists and general artists who have established partnerships with our Fanverse Foundation can use the content produced to cast NFTs and distribute them to the primary market. NFTs in the primary market purchased by users can be resold in the secondary market again.
- Social Producing: In this area, creators can produce fan/social tokens, which allows fans to participate in crowdfunding for various creators. The non fungible function of the NFT and will be combined with re-fungible tokens that add liquidity back to it will take place. This includes the smart contact standard of ERC 721, ERC 1155, and the Refungible token function of the ERC 20 standard to bring liquidity again.
- Mystery Box: Fans can apply for the mystery box to collect limited edition NFTs from various artists. This is a very familiar form of function for Crypto market participants.
- NFT PLUS: Users can purchase products linked to real assets they can encounter in everyday life at NFT PLUS. This can be limited edition products, artworks, VIP tickets, and goods, which will include fragmentation investment functions in the future.
- NFT Gallery: The NFT Gallery is an interface where content creators and collectors display NFTs. Through this, fans will be able to display or access additional NFT works of collected artists, which will further strengthen the fandom culture. It is initially provided online and can be displayed in offline exhibition halls by our ecosystem partners.
Fanverse is a new NFT social platform for fandom around the world. If you want to hear more diverse news in the future, please visit our official channel.
Website : http://fanverse.world/
Twitter : https://twitter.com/Fanverse_twt
Medium : https://medium.com/@fanverse_1171
Discord : https://discord.com/invite/p59uw3cfKv
Telegram : https://t.me/fanverse_global