[THE INVESTOR] Korea Fintech Industry Association Network Alliance on June 20 said it will out a blockchain platform targeting K-pop fans around the world.
On the app platform called Ko-fun K-pop star fans can sell their goods ranging from fan-fiction to images and videos, and also purchase materials from other sellers. Fans can also celebrate their favorite celebrity's birthday on Ko-fun.
All this can be done using using cryptocurrency especially dedicated to the platform. The association plans to join hands with talent agencies to create individual cryptocurrencies for each celebrity, such as the BTS coin or the EXO coin.
Harex Infotech CEO Park Kyung-yang (left) and K-FiNNeT Chairman Hong Jun-young
Harex Infotech, in connection with its own mobile wallet UBpay, will develop the Ko-fun platform, and technology for coin transaction and authentication. TechStory will establish the server for ICO and be in charge of maintenance.
The association is also setting up its flagship cryptocurrency exchange called Cheonjiyin, where transactions of Ko-fun coins will take place. The association is planning to kick off initial coin offerings for the project beginning in July, after it successfully establishes its Hong Kong unit later this month. The association hopes to raise 20 billion won (US$18.02 million) in the first round, with plans to raise capital of up to 400 billion won in the next two years.
By Ahn Sung-mi (firstname.lastname@example.org)