- The main goal of the TooNFT Dapp is to facilitate the transition from centralized platforms to a decentralized ecosystem.
- As a decentralized webtoon application, TooNFT is looking forward to providing freedom and transparency to the entire industry.
TooNFT, a blockchain-based decentralized Web3 platform, and Toomix, one of the largest webtoon platforms in South Korea, have decided to launch a decentralized webtoon platform. The companies took the step keeping in mind the rapid evolution in technology and new developments regarding Web3 and dApps.
Both the firms took the step to venture into a new era of applications built using blockchain technology. Through the collaboration, the companies aim to bring a new level of adoption for the IPs that are easily incorporated through the Non-Fungible Tokens (NFT) standards.
TooNFT is a decentralized webtoon application that aims to bring the greatest degree of freedom and transparency to the entire industry. TooNFT is looking forward to designing a decentralized market for online comic fans and developing a transparent compensation system that has been designed to support and motivate content creators. The main goal of the TooNFT Dapp is to facilitate the transition from centralized platforms to a decentralized ecosystem where content creators can earn reasonable returns by ‘NFTizing’ their webtoons and exchanging them in the P2P NFT marketplace.
What makes TooNFT stand out?
The TooNFT platform’s key features aim to address the market vacuum for online comic enthusiasts. The team is working to build a platform that will include a content subscription service, community building elements, NFT for content distribution, content selection voted on by the project’s governance DAO system, and profit sharing.
Content subscription services allow writers to publish content without paying a publication fee. The company aims to give subscribers more options while also increasing webtoon accessibility. This includes key performance indicators, reviews, opinions, stars etc.
Community building calls for the establishment of community pages to create a community inside the same platform. Users can use these community pages to express their views and opinions and assist in developing fandoms.
The team also intends to design incentives to encourage users to engage in community activities via awards purchased and distributed to posts and comments.
Furthermore, through DAO governance, content selection will begin with team discretion and progress to be selected by voters in the DAO mechanism via decentralized governance. NFT infrastructure and a profit-sharing scheme will involve stakeholders who develop, distribute, and consume material linked to the NFT to earn a percentage of the generated revenues.
TOON tokens will provide all of the abovementioned services on the TooNFT platform.
The TOON token will be the primary unit, allowing access to all TooNFT ecosystem services and features. As a result, TOON token holders can stake their tokens and earn rewards by participating in governance operations.