SOMESING, blockchain-based social karaoke DApp, is to develop an independent karaoke app for the Japanese market using LINE Blockchain.
Two-track strategy to develop LINE blockchain-based service to enter the Japanese market while maintaining existing SOMESING service based on Klaytn mainnet
SOMESING, a blockchain-based social karaoke DApp, announced that it will develop an independent karaoke DApp service by utilizing the LINE Blockchain platform developed by LINE TECH PLUS (hereinafter referred to as ‘LTP’). SOMESING was also included in 8 LINE Blockchain DApp service partners announced by LTP on September 30. (https://linecorp.com/ja/pr/news/ja/2020/3439)
“Since LINE’s initial blockchain service partners were revealed, some people in the industry have expressed concern regarding the direction of the existing Klaytn-based service,” said an official at SOMESING. However, he clarified by explaining that “While we continue to upgrade our existing Klaytn-based SOMESING service, a separate SOMESING service specialized in the Japanese market by utilizing the LINE blockchain platform will be developed”.
As for the service partnership with LTP, Kim Heui Bae, a CEO of SOMESING said, “Japan is the origin of karaoke culture, accounting for more than half of the global karaoke market’s size, worth $5.7 billion. In addition, according to the “2019 Global Music Report” data released by the IFPI, Japan’s music market continues to maintain more than $6 billion, boasting the second-largest global scale. We were the first to consider the Japanese market for SOMESING’s global expansion, and we are pleased to gain a foothold in the Japanese market through this service partnership contract with LTP.”
“From the beginning of the launch of the service to the present, SOMESING service has been translated into Japanese and released via both Apple App Store and Google Play Store. In addition, we have already signed contracts with major copyright associations in Japan, such as JASRAC and NexTone to secure legal stability in the Japanese business. With no services monopolizing the online karaoke market, we want to become a leader in mobile karaoke app services in the Japanese market through close cooperation with LINE Blockchain” added CEO Kim.
Regarding the token operation plan, CEO Kim said, “Since SOMESING’s initial token issuing volume was set in consideration of global business expansion, we will also carry out ‘token burning’ of the existing Klaytn-based SSX tokens in proportion to the LINE blockchain-based token issuance that will be used in SOMESING Japan service in the future. I look forward to continued interest and encouragement in SOMESING, which is expanding into the global market starting with the Japanese market”
Meanwhile, since LINE unveiled its own blockchain network, LINE Blockchain (formerly LINK Chain) and its virtual asset ‘LINK’ in 2018, LINE has enhanced its platform and worked hard to comply with regulations in Japan, and acquired BITMAX’s business license in September last year and started distributing LINK coins in BITMAX in August this year. In August of this year, the company also launched “LINE Blockchain Developer,” a blockchain service development platform that allows easy and efficient service development on top of LINE Blockchain, and “BITMAX Wallet,” a digital asset wallet linked to LINE Messenger.
