Author: Jiyun Kyung, Business Development (https://www.linkedin.com/in/jiyunkyung/)
WEPIN Partners Day 2024 Speakers
① Verychat: "The Future of Web3 Mass Adoption Through the History of Computer Popularization"
③ map3protocol: "Web3 based Real-World Map"
④ Metacultures: "Global Mass Adoption through K-Culture Performance"
⑤ BitBlue: "Entertain Transformation; AltTown"
⑥ Socialus: "Building YouTube Investment Ecosystem with Web3 Wallet"
⑦ StudyRich: "StudyRich X WEPIN, Creating WEB3 Learning App"
⑧ Modern Lion: "Driving Blockchain Mass Adoption through NFT"
⑨ WEPIN Wallet: "Growing Together with Partners, Shaping the Future of Web3 Mass Adoption"
[TL;DR]
- BitBlue is developing Alt.town, a Web3 platform that enables mutual growth between virtual celebrities and fans through value tokenization.
- Alt.town issues virtual celebrities' value as digital asset DNA for trading and encourages continuous participation through gamification elements.
- Through partnership with WEPIN Wallet, BitBlue aims to implement user-friendly Web3 services and expand into global markets.
About Bitblue
BitBlue is a Web3 culture company that implements personal value metrics and develops Web3 services and content based on these metrics. The company aims to develop original IP and lead new content culture.
The company's flagship service, Alt.town, successfully conducted a beta service with 40 Korean virtual celebrities for three months in early 2024, and is now preparing for global service launch targeting Southeast Asia and Japan. Alt.town is a platform that tokenizes and enables trading of virtual celebrities' value, offering a new type of service where fans and investors can participate through support and generate returns.
BitBlue owns original IPs including 'Virceli' and 'Cosmic Fruits', through which it is creating new content culture. Recently, Alt.town was selected for Binance's MVB (Most Valuable Builder) Program Season 8, and the company plans to launch 'Know-YourSelf', a service for human celebrities, in the latter half of next year.
Entertain Transformation; Alt.town
Hello, I am Joo Sang-sik from BitBlue, a Web3 culture company. Thank you for giving me the opportunity to present at WEPIN Partners Day. Today, I would like to share our sustainable business vision for the entertainment ecosystem, focusing on our service Alt.town.
I served as CTO and CISO at SM Entertainment for 17 years. Currently, through BitBlue, we are aspiring to be a Web3 culture company that implements personal value metrics and creates Web3 services and content based on these foundations. To achieve this, we are developing our own original IP and striving to lead new content culture.
We offer B2C services along with B2B solutions that support Web3 expansion, transformation, and new development in the entertainment sector. We will introduce our original IPs, Virceli and Cosmic Fruits, later. For our B2C service, we are developing projects centered around Alt.town, a virtual celebrity value growth platform, and plan to launch 'Know-YourSelf', a service for human celebrities, in the latter half of next year.
Alt.town is a participatory growth service that tokenizes virtual celebrities' value, enabling fans and investors to engage in trading through support and receive corresponding rewards and returns. Through our diverse services and solutions, we aim to build a balanced ecosystem.
In addition to digital asset trading that reflects the characteristics of virtual celebrities, we incorporate various gamification elements to provide entertainment, sense of belonging, and motivation for participating in value growth. Looking at the service features, Alt.town reflects the value of virtual celebrities, including VTubers, virtual idols, and virtual influencers. This value encompasses various quantitative and qualitative elements, represented by one million digital asset DNAs issued through our internal scoring system. Fans and investors can purchase DNA of their favorite virtual celebrities, support them, and grow together.
Virtual celebrities can gain new revenue opportunities and motivation through the continuous appreciation and fluctuation of DNA value linked to Alt.town, in addition to their existing social media earnings. As virtual celebrity culture has been trending since last year, we are preparing for a global service launch targeting Southeast Asian countries like Indonesia and Vietnam, as well as Japan, a powerhouse in the VTuber industry, providing celebrities with opportunities for global expansion.
As mentioned earlier, we have implemented gamification-style event elements alongside trading functions to encourage continuous user engagement and service expansion. To make this more tangible, let me show you an Alt.town introduction video featuring our original IP VTuber, 'Virceli':
"Hello, this is Virceli, your virtual celebrity reporter. Alt.town conducted a beta service with 40 Korean virtual celebrities for three months starting January 2024. Based on this successful beta experience, we have enhanced our service and are returning as a global platform.
Alt.town is a platform contributing to virtual celebrities' value growth. Virtual celebrities participating in Alt.town are called 'Alts', representing their alternate selves. Any recognized virtual celebrity, including VTubers, virtual streamers, virtual idols, and virtual humans from any country, can participate. Registered virtual celebrities can issue digital assets called DNA to sell their value, and users can trade these DNA tokens containing the celebrities' value.
Alts can reach a broader audience and engage with more fans, while fans can contribute to their favorite VTubers' value growth and communicate with them. This is the world's first service concept for trading virtual celebrity value. Among celebrity value investment services, there are platforms like FriendTek and TrenBack. For more updates about Alt.town, follow us on Twitter and Discord. The Virceli channel will continue to bring you Alt.town news and useful information about virtual celebrities, so please subscribe, like, and share."
Virtual Celebrity Reporter 'Virceli' YouTube Channel
Now, in keeping with WEPIN Partners Day, let me emphasize that while we're developing Alt.town as a Web3 service, the most crucial element is the wallet in Web3 services. A wallet serves as both a hub and vital link connecting all services. While wallets are essential for service use, they need to be user-friendly and accessible to everyone.
The limited adoption of Web3 thus far can be attributed to the complexity of various aspects - from seed phrases to mnemonics, diverse access methods, and management structures. Additionally, without a specialized development team, creating a wallet presents significant technical challenges and resource demands.
Web3 also faces various security challenges related to wallets. A comprehensive management system is needed, including complementary risk management for key and asset handling. For Web3 to achieve mass adoption, we need greater ecosystem participation and specialized wallets capable of handling large-scale users and transactions, especially when connected with entertainment sector participation like ours. After careful consideration of how to incorporate such speed and flexibility into wallet services, we decided to partner with WEPIN.
We've maintained a partnership with IoTrust since our early startup days. Having observed WEPIN since its infancy and witnessed its remarkable growth, we concluded after completing our beta service that WEPIN was our only viable choice for the official service launch.
Within Alt.town, we're implementing Ripple for efficient wallet creation, asset management, and transfers. We utilize it for swapping and trading all Alt.town assets, from our chosen mainnet opBNB to celebrity assets including DNA, keys, and governance tokens. While not implemented in the initial launch, we plan to manage NFT issuance and management, airdrops, and dashboard control points through WEPIN as well.
Beyond rapid development and collaboration, we encountered various challenges and variables in the Web3 environment during our launch preparation. We changed mainnets several times before deciding to use the BnB Chain for our final commercial version. WEPIN's swift response to these challenging requirements ensured our service development stayed on track, quickly adding and supporting even unconventional requirements as we switched chains.
In addition to ongoing projects, we are closely collaborating on R&D initiatives. This includes continuous support for development through gas fee concepts, account abstraction, multisig development collaboration for management point issues, UI design, and SDK support.
With this support, we are on track for launch within this year. For Web3 to achieve mass adoption, the process must be enjoyable and entertaining. My frequently used term 'Entertain Transformation' is inspired by 'Digital Transformation'. Despite being emphasized for over 20 years, digital transformation often failed because it lacked engagement, incurred high costs, and showed little tangible results.
For technology to achieve widespread adoption, it must be integrated with entertainment that is enjoyable, pleasant, and continuously appealing to experience. That's why we believe it's crucial to develop the Web3 entertainment ecosystem with 'Entertain Transformation' as our vision.
Our direction is to transform the entertainment ecosystem's paradigm by merging technology with emotional resonance. Let me share some key points related to this approach.
From an entertainment ecosystem perspective, fans can now own celebrities' digital value and assets, fostering real connections and lasting relationships beyond simple NFTs. This enables fans and celebrities to share content value, pursuing tangible economic benefits and growth together. Unlike the past where fans made one-sided contributions to their favorite artists or celebrities, we now enable mutual and reciprocal growth.
From a community-based economic model perspective, this approach can contribute to growth across industries beyond entertainment. Alt.town establishes a model enabling direct participation in content ownership and creation, creating an implementable structure that integrates with community-based Web3 models.
In terms of Web3 extensibility, unlike Web2, fans and investors can become co-creators and participants rather than mere consumers. Web3 technology guarantees relationships where fans can make meaningful contributions to their favorite celebrities and receive clear rewards and transparent returns.
Alt.town's future lies in becoming a dedicated platform and value exchange medium for virtual celebrities worldwide. Furthermore, through our upcoming 'Know-YourSelf' platform, we plan to enable human celebrities to participate in value exchange and growth alongside virtual celebrities.
Through the WEPIN wallet, we will implement various features including airdrops using WEPIN Drop, virtual celebrity NFT issuance, and dynamic NFT development for Alt.town events. We will also manage virtual assets including DNA and NFTs through the WEPIN wallet, continuing our collaboration for ongoing R&D and growth.
Finally, I'm pleased to announce that Alt.town was recently selected for Binance's MVB (Most Valuable Builder) Program Season 8. We look forward to bringing you more good news in the future. Thank you for your continued interest in our journey.
Note: This content has been edited from presentations delivered at WEPIN Partners Day 2024. Please be advised that some content may vary from the original presentations.
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