STASIA is introducing a token that is named after Dreamcatcher themselves, to all the fans around the world. There were attempts to release K-POP idols’ tokens in the past but Dreamcatcher is the first group to actually release the tokens.
Dreamcatcher Token’s symbol is DRC.
Why ‘Dreamcatcher Token’ is being created?
Despite not doing promotions overseas often, Dreamcatcher has as many international fans as their Korean fans. Surprisingly, more than 90% of the comments on Dreamcatcher’s Youtube videos are not in Korean. The concert tour that was held this year in 7 European countries and South America was requested personally by overseas fans. Dreamcatcher will also be making their official Japanese debut in mid-November. The passionate support of Dreamcatcher’s fans and their promotional activities are crossing borders. Known as the rising star of the new generation of K-POP, it is crucial for Dreamcatcher to keep a global perspective and continue communicating with their fans, in order to officially start promoting globally.
However, there are several obstacles in the constant communication between Dreamcatcher and their fans. Dreamcatcher wants to show their gratitude with more than just a simple “Thank you InSomnias!” by continuously looking for fair methods that will help them to compensate their fans for their support. This is especially the case when InSomnias have supported Dreamcatcher since their debut and Dreamcatcher would like to share the credit with all the InSomnias who have grown together with Dreamcatcher.
In this case, Dreamcatcher is combining the technology that is currently leading the Fourth Industrial Revolution, Blockchain and cryptocurrency, to release the ‘Dreamcatcher Token’.
Most people have heard at least something about cryptocurrency. A technology called Blockchain is needed for Cryptocurrency to be implemented and Blockchain is a type of account that records transactions. Instead of a centralized server of a particular organization, information is recorded, managed, shared, and distributed across the network. Therefore, it is difficult for fabrication and falsification to happen, and it is not connected or restricted to any country or organization. Those are some of the benefits of Blockchain, and cryptocurrency is a digital currency that runs on a Blockchain. Cryptocurrency is currently gaining the attention of investors as it can be used to trade and valued as assets. When the supply is limited or the demand rises, the market value rises as well.
Let’s go back to Dreamcatcher’s token, shall we?
Ethereum (ETH), the second largest cryptocurrency by market capitalization is used as the base for Dreamcatcher’s token. In other words, the Hong Kong-based idol token distributing platform, STASIA is releasing ‘Dreamcatcher Token’ by using Ethereum as the token’s base. ‘Dreamcatcher Token’ is used to form the ecosystem of Dreamcatcher and their fans in the Blockchain platform. That is, a token is used as the medium for transactions within a specific service that is related to cryptocurrency.
So, what are the benefits that Dreamcatcher’s fans can gain from the ‘Dreamcatcher Token’?
Let’s suppose a fangirl of Dreamcatcher from Spain, Freda, wants to buy a ticket for a Mini Fan Concert, organized by Dreamcatcher’s management company. The problem starts from the payment section. Going to a bank to make an overseas remittance is troublesome as it is, and the fees are also expensive. Not only it is unclear whether the money is indeed being sent to Dreamcatcher’s management company, when and where inquiries can be made is also unknown. Why not just make the payment with a credit card? Freda does not have a credit card so she has to use her parent’s card. However, the payment webpage is not showing properly and the identity verification process is very confusing. Should the payment be made by the Euro or Korean Won? Is she supposed to be aware of the Euro exchange rate that is always changing? Everything is in Korean and Freda is getting very frustrated because she has no idea what any of the words mean.
‘Dreamcatcher Token’ is the bridge created to help Dreamcatcher’s fans to cross this sort of complicated language, country, and currency boundaries. Transaction process becomes easier and more transparent by the use of tokens. Dreamcatcher’s fans all around the world can easily access to digital contents like posters and unreleased videos, limited edition merchandise and goods, offline event tickets like concerts or fan-meetings by Dreamcatcher, through the use of ‘Dreamcatcher Token’.
Now, let’s suppose the Spanish fangirl, Freda, bought a JiU-focused practice video. After watching the video, Freda thinks that JiU is not only pretty, but she’s also so talented that it is no wonder she is the leader of the group. So now, Freda wants to share JiU’s video with her friends. The reaction of her friends after watching the video is recorded and made into a video and Freda wants to share the video with all the other Dreamcatcher’s fans around the world, so she uploaded the video to Youtube. Not only she will be able to feel the sense of kinship with other fans who feels the same like her, she could also receive more ‘Dreamcatcher Tokens’ through the Bounty Program by uploading the reaction video.
The passionate support and promotion by fans like Freda, is very important to the growth of Dreamcatcher. Till this day, the hard work of fans that plays a very important role in a star’s success is not given enough credit or fairly regarded in the fandom culture. Therefore, Dreamcatcher is hoping to form a new crypto-fandom culture through the release of ‘Dreamcatcher Token’. Dreamcatcher wants to compensate their fans for their support by presenting them with tokens. Firstly, no matter what form of support that the fans offer, tangible or intangible, it is all recorded fairly and transparently on the blockchain platform as a differentiated fan experience that will be provided through the ‘Dreamcatcher Token’.
The heart of fans who wish earnestly for the success of Dreamcatcher will not be forgotten or disregarded.
The ‘Seven Nightmares’ Dreamcatcher who wish to actively communicate with all the fans around the world through ‘Dreamcatcher Token’, let’s all join their dreams and adventures to their world!
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