Seoul, South Korea, April 14, 2022 — South Korean blockchain tech firm HUPAYX is launching Trice, the first nonfungible token (NFT) timeshare platform in its country.
Trice puts the platform’s growth engine in the digital integration of real assets. This is because, although the virtual asset and NFT markets are growing remarkably fast, they are still incomparable to traditional finance and investment markets. HUPAYX wants to tokenize the brick-and-mortar business in more diverse areas and reorganize the market structure to increase public access to virtual and crypto-assets.
The word “trice’ means a short, quick moment of time. This represents the philosophy of the company to bring concrete value to NFTs with utility — assets that can be objectified and verified. The company has emphasized community as its core driving force for the Trice ecosystem. In the past, suppliers and consumers were separated, especially for platform businesses. Trice, however, blurs this boundary; everyone with the platform strives to raise the value of their assets through various activities. In turn, Trice’s role as an intermediary disappears, and the role of the consumer is reorganized as an active market participant. NFT holders will benefit from direct transactions between real-life property and asset owners, users and the community enjoying a greater profit — contrary to current platforms where users only receive a fraction of advertising revenue.
HUPAYX is introducing its pilot project “Slate-1” to showcase the new economy model they are proposing. “Slate-1” is a timeshare-membership NFT that will be issued in partnership with Korea’s premier advertising company, Korads. “Slate-1” is a commercial membership available to filmmakers by default, providing discount rates for the rental of video production centers operated by Korads. Noncommercial NFT holders, however, can still stake their NFTs, allowing them to earn governance tokens used to sponsor projects and obtain rewards in HPX, HUPAYX’s utility token.
A Korads representative said, “The ultimate goal is to create a new form of K-content where fans directly participate in different stages of film production and therefore significantly expand viewer participation — from the selection of scripts to investments and even in post-production through fan community activities.”
The “Slate-1” release schedule and project milestones will be announced on Wednesday, April 20.
Ethan, director of Hupyax, said, “From the second half of the year, we will [hear] the voices of market participants by launching full-scale commercial services and various pilot projects and actively steer the project to best reflect the market’s needs.”
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