Blockchain-based video platform Underpin’s CEO, Kim Tae Joon, has joined hands with Vinetree CEO, Kim Sang Duck, who plans to take his mega popular South Korean gaming app to the blockchain space.
Underpin announced on the 2nd of April that they have signed a memorandum of understanding (MOU) with Vinetree for future business cooperation. Through this business agreement, the two companies plan to jointly develop and market services in their respective fields of video commerce and gaming, which have both seen a surge in growth in recent years. The goal of their agreement is to maximize business synergy by harnessing Vinetree’s know-how in the gaming industry and Underpin’s video commerce solution.
“At a time when we are preparing to enter the global gaming market, it is important for us to create differentiated value through cooperation with, for example, FinTech, video and other promising blockchain sectors,” said Kim Sang Duck, CEO of Vinetree.
“Innovation of commerce using FinTech and video technology is essential to increase consumption,” said Kim Tae Joon, CEO of Underpin. “We will expand investment in related fields and focus our capabilities in response to the rapidly changing financial and overall commerce environment.” He added that he will focus efforts on providing users with exciting benefits that reflect the new age “incentive economy.”
Underpin operates a video platform called “FANZY,” which provides ad-free video consumption to its users. It aims to realize an incentive economy that provides information transparently through artificial intelligence and blockchain technology and returns benefits to users who provide said data.
Vinetree runs the nation’s No. 1 gaming social app “GameTalkTalk,” which boasts over 3.5 million downloads from the Google Play store. Vinetree is planning to introduce a P2P (Person-to-person) gaming platform in the second half of this year (2020) and expand their business to global markets, in light of their massive domestic success in South Korea.
Source: BlockInPress (//blockinpress.com/archives/30979)
