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Metanation, Memetoon partner up for webtoon, short-form services

May 17, 2024 - 13:55 By Korea Herald
Metanation CEO Lee Kwang-tae (right) poses for a photo after agreeing to a partnership with Memetoon on Tuesday.

Metanation and Memetoon inked a deal Tuesday for a global content market-focused partnership, which will involve projects incorporating blockchain Web3 technology across different industries such as webtoons, movies and dramas.

Webtoon service Memetoon, which has an international publisher, plans a range of services involving secondary copyright, NFTs, AI, tournaments, donations, sponsorships, support, and gaming, utilizing its token and point systems.

"We aim to provide a decentralized model service that does not require a trusted third party by utilizing a semi-decentralized model and SBT. We anticipate significant achievements in 2024 by taking a progressive approach and making this year meaningful and successful," a Memetoon Foundation representative said.

Plans for Metanation include Short Challenge, or "ShortChall," a Web3-based short-form challenge service, set for launch in Indonesia in the second half of this year. ShortChall service combines both Web2 and Web3, featuring ranking evaluations through competitions, prize distribution, dramas, user participation rewards, and targeted advertising for sponsors.

Officials at the company expressed hope that Indonesia -- where half of the population is reportedly under 30 and has a high engagement rate with K-content -- could be an ideal environment for a platform that focuses on content, personal participation, and revenue sharing -- key concepts for the MZ generation.

"Through this partnership agreement, we aim to deliver innovative content services in the global market," CEO Lee Kwang-tae said. The company said it plans to collaborate with top partners with 75 million users and influencers with an average of over 30 million followers.

The two companies hope the agreement solidifies their place in the global content market, and have pledged to offer new experiences and value to a diverse range of consumers.