A decentralized webtoon platform is intended to be created through TooNFT. In a private financing sponsored by HG Ventures, the idea raised a whopping $1.75 million.
Institutional investors such as Mindfulness Capital, Adaptive Labs, Prestige Fund, Alphabet, and GBIC have shown interest in the TooNFT project. TooNFT is poised to become a fantastic product with the support of such investors. According to the press release, TooNFT will tap into the ecosystem of Toomics, a South Korean Webtoon company, which has a massive profit-generating business strategy.
For many of you who are wondering what is Toomics
With 50 million active users and 10 million app downloads, Toomics, a TooNFT affiliate, has become South Korea’s top subscription platform. TooNFT caters to a fantastic NFT environment and places a high priority on disruption, which sets it apart from other webtoon service providers.
Toomics has teamed with Tencent, KEB Hana Bank, GMarket, and AfreecaTV in recent years. It has also won numerous honours from recognised organisations. Furthermore, Toomics’ subscription service produces around $60 million per year.
Toomics has launched TooNFT in order to embrace the idea of a decentralised future. TooNFT aims to improve the creative ecosystem by creating a financial framework that allows writers to raise funds without the need of middlemen.
Everybody awaits to see what TooNFT brings to the table for Toomics.
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