TooNFT is a blockchain-based webtoon platform that has confirmed its launch on top of the ecosystem of Toomics, Korea’s Largest webtoon company. TooNFT, a decentralized webtoon firm, has successfully received $1.75 million in a private round.
According to the official statement, HG Ventures led the private round, which included numerous renowned institutional investors. Adaptive Labs, Alphabet, Mindfulness Capital, GBIC, and Prestige Fund are among the investors. Toomics, a TooNFT subsidiary, is one of the major webtoon service providers, with 50 million active users and 10 million app downloads.
TooNFT intends to use the money acquired in the private round to bring technical innovation to the sector by applying blockchain-based protocols, resulting in a highly evolved NFT ecosystem.
Toomics, the TooNFT’s subsidiary, is a well-known South Korean webtoon comics firm with 10 million app downloads on both iOS and Android smartphones. The firm was founded in 2015, with a $15 million USD investment from significant capital ventures.
The platform has been established on the Toomics ecosystem with the goal of adopting decentralization in the future. This procedure will apply the NFT principle to webcomics and comics.
TooNFT’s major aim is to enhance the environment by enabling a system that brings investment in a P2P format, eliminating the need for middlemen.
As a result, the firm has received $1.75 million in private and seed rounds to create webtoon NFT infrastructure. This will enable the incorporation of a blockchain distributed ledger, which will aid in the improvement of the webtoon business.
By using blockchain technologies, average consumers would have simple access to invest without the participation of a third party. It offers secure services with open data and staking. TooNFT is the world’s first decentralized webtoon platform available globally.
It’s worth mentioning that TooNFT will begin offering services in 11 languages, including Korean, English, Spanish, and French. In 2023, the TooNFT team will provide P2P trading and investing for its customers in order to improve the NFT sector. Because the network is decentralized, users may exchange webtoon NFTized content as well as perform fundraising without the need for an intermediary.
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