Anyone who has been following the world of NFTs (non-fungible tokens) would know that people enjoy investing in cartoon-themed projects.
Whether it’s the hugely popular canine-themed cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB), or even well-known NFT collections like The Bored Ape Yacht Club (TBAYC), the fact is that toons continue to play an essential part in investing today.
Having said that, ‘TooNFT,’ a blockchain-oriented webtoon platform, recently announced that it has launched on the ecosystem of South Korea’s biggest webtoon company, Toomics. The TooNFT team received a remarkable $1.75 million in private finance to aid in the development of a completely decentralized webtoon platform.
What exactly is TooNFT?
TooNFT is based on the Toomics ecosystem, which is one of the most popular webtoon service platforms, with around 50 million active web users, over 10 million app downloads on both Android and iOS, and a strong profit-generating business structure.
To put it simply, TooNFT is a blockchain-based platform that aims to revolutionize the comics and webtoon industries by creating an intuitive next-generation ecosystem based on NFTs.
Adaptive Labs, Alphabit, GBIC, Prestige Fund, and Mindfulness Capital were among the major institutional investors who contributed to the previously mentioned private round of fundraising managed by HG Ventures. The TooNFT platform was launched on top of the aforementioned Toomics ecosystem to introduce the notion of non-fungible tokens to the webtoon and comics sector, keeping to high standards and the broader purpose of embracing a decentralized future.
TooNFT’s major goal is to improve the innovative environment by creating a system that allows writers to attract funding using the P2P (Peer To Peer) format without monopolizing the intermediation process.
As a result, TooNFT may begin developing its webtoon NFT infrastructure to successfully integrate with blockchain distributed ledger technology by garnering a large amount of funding from early-stage investors in the amount of $1.75 million in their private as well as seed rounds.
Furthermore, it is working to make significant improvements to the webtoon industry, such as easy investment access for a large number of regular users without the involvement of intermediaries, as well as a secure and dependable service with transparent data and various staking and reinvestment opportunities.
As a result, TooNFT is leveraging blockchain to create the world’s first worldwide decentralized webtoon platform for public consumption.
The Importance of Toomics
Toomics began in 2015 by raising up to $15 million in venture capital funding to launch their goal of building a webtoon and comics platform. Toomics has subsequently surpassed all early predictions, with up to 7 million MAU, signed cooperation with AfreecaTV, Tencent, KEB Hana Bank, and GMarket, and is currently regarded as one of the largest webtoon platforms in the world, having garnered numerous honors from respected institutions.
Toomics thus has significant financial traction, with up to $60 million in annual revenue generated from centralized sales of numerous webtoon subscriptions on its platform.
In layman’s terms, it intends to disrupt the webtoon industry by employing a blockchain-based protocol and creating a highly advanced and user-friendly NFT environment. TooNFT will benefit from collaborating with such an innovative and profitable platform.