This Blockchain Project Brings Webtoons To the Web 3.0 Via Its Platform TooNFT is the inaugural decentralized application developed on top of the Toomics Ecosystem

By John Stanly

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When we consider just how fast the world has changed over the last few decades as well as the growing global significance of new regular developments in Web 3.0 and dApps, it becomes easy to see how Toomics became South Korea's third largest webtoon platform.

This is mainly because TooNFT has now begun the slow transition to a new decentralized era of applications built with blockchain technology. The overall objective here is to usher in a new level of adoption for the IPs that are seamlessly incorporated through the NFT standards.

TooNFT is the inaugural decentralized application developed on top of the Toomics Ecosystem, with the main goal of delivering some much-needed freedom and visibility to the webtoon industry. TooNFT intends to build a decentralized marketplace by recognizing and addressing market problems for online comic fans and also construct a transparent pay system that supports and motivates content producers.

To that end, the TooNFT dapp's major objective is to hence ease the transition to decentralized ecosystems from centralized platforms in which content creators can receive a fair return by 'NFTizing' their respective webtoons in addition to successfully exchanging them via a peer-to-peer non-fungible token marketplace.

What's so special about ToonNFT?

TooNFT provides a new kind of platform whose core features are purposefully designed to fill a market void for online comic and webtoon fans. The team is working on a platform which shall involve a content subscription service, community building aspects, content selection based on votes from the project's governance DAO system, a fair profit sharing system and NFTs for content allocation.

The main capabilities revolve around promoting direct trades between writers, investors and readers without the use of a middleman, building a fair compensation system for creators and investors, and last but not least transforming webtoons and manga works into marketable non-fungible tokens.

An interesting feature has to be the content subscription service which allows the publishing of content without having to pay a fee. The idea was to provide additional alternatives to subscribers while simultaneously expanding webtoon accessibility. This section includes key performance metrics, reviews, comments, and stars, among other things.

The creation of community pages in order to develop a community inside the same platform is thus what community building includes. Users may share their thoughts and ideas on community sites and contribute to the growth of fandoms. The team also plans to provide certain benefits to attract more users to participate in community activities, such as purchasing and distributing rewards to comments and posts.

Bringing power back to the content creators

Content selection will commence with team discretion and advance to being selected by votes in the DAO framework through decentralized governance. Stakeholders who develop, distribute, and consume material linked to the NFT will receive a percentage of the income generated by the NFT system and a profit-sharing scheme.

Secondly, TOON tokens are utilized to power all of the previously mentioned TooNFT platform services. The TOON token will therefore serve as the main unit, allowing access to each and every TooNFT ecosystem feature and service. As a consequence, TOON token holders can stake their tokens and earn rewards by participating in governance operations.

Needless to say, TooNFT could very well be a potential game-changer in the world of webtoons and online comics as we move ever closer to the eventual complete shift to the Web 3.0 era.

Note: Investment in cryptocurrency is subject to risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.

John Stanly

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