• Home
  • Contact Us
  • Privacy & Policy
Monday, May 23, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Block chain

Token-Driven Karaoke Platform Gets a Boost in South Korea as Pandemic Hits Over 2,100 Singing Rooms – Blockchain Bitcoin News

by admin
March 9, 2021
in Block chain
0
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Coronavirus-driven lockdowns and social distancing limits affect people’s way of entertaining themselves, such as going to karaoke. In South Korea, that activity is too popular, and despite the COVID-19 outbreak, the crypto industry is trying to capitalize on it.

Somesing: A Blockchain-Based Karaoke App

Per Fn News, Somesing, a blockchain-based karaoke app, already hit the 400,000 users’ milestone. The figure is significant, considering that it’s doubling the user base (195,000) for the last six months.

Karaoke’s hobby is like the norm in several Asian countries, and the coronavirus pandemic knocked down this sector heavily.

In fact, according to figures published by local media, at least 2,137 “noraebang” businesses had to shut down across South Korea since the outbreak started. The number is the lowest level ever recorded, stated the Shopping Center Information Research Institute.

“Noraebang” is the Korean name given to private singing rooms, translated into Western countries’ language as karaoke places. South Koreans have the habit of going with friends and even workmates after finishing their duties to sing in the noraebangs.

Token-Driven Karaoke Platform Gets a Boost in South Korea as Pandemic Hits Over 2,100 Singing Rooms

Somesing’s platform allows people to sing along to their favorite tunes and upload them on the app. Moreover, the app rewards active users with tokens from other users or friends according to their popularity.

However, one-half of the coins will fund the platform, such as paying for maintenance costs and copyright fees, said the company behind the blockchain app. The popularity of Somesing has been on the rise across South Korea, as it has been featured on major TV channels.

South Korean Entertainment Sector Relying on Tokenization Solutions

Other entertainment sectors have also been struggling with their businesses. Still, tokenization has been offering an alternative during these times.

Fn News highlighted a travel-based blockchain platform that doubled its user base in the last three months.

Milk relies on a token that can be used to acquire books, and people can exchange it for vouchers in e-commerce outlets such as Shinsaegae.

In the cinema industry, Moviebloc is another blockchain-powered service that offers South Korean filmmakers an alternative to showcase their work. Platform’s users can earn tokens by writing reviews and rating films, whose coins can be exchanged in domestic crypto exchanges.

What do you think about this karaoke tokenization idea in South Korea? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.




<

Tags: BitcoinBlockchainboosthitsKaraokeKoreaNewspandemicPlatformRoomsSingingSouthTokenDriven
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

Singapore Stock Market Expected To Be Rangebound On Monday

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

Singapore Stock Market Expected To Be Rangebound On Monday

May 23, 2022

First Mover Asia: Terra’s Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

May 22, 2022

Oxfam calls for an end to billionaire ‘bonanza,’ say millions are falling into extreme poverty

May 22, 2022
Malawi Faces Shortages of Foreign Exchange Currency

Malawi Faces Shortages of Foreign Exchange Currency

May 22, 2022

Recent News

Singapore Stock Market Expected To Be Rangebound On Monday

May 23, 2022

First Mover Asia: Terra’s Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

May 22, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.