SOMESING, a blockchain-based ‘Singing Content Platform’ announced on November 28th that it has attracted over $1 million in investment and signed a strategic partnership with DWF Labs, one of the leading global Web3 venture capitals.
At SOMESING, anyone can create music content by singing using the MR provided by SOMESING. Users can also actively communicate by sharing user-created content on the platform and utilizing various social functions provided by SOMESING. In particular, SOMESING combines blockchain technology with the service to implement a Web 3.0 environment where users can benefit from economic rewards by receiving support from other users for content created by users. Since the official service launch on the blockchain mainnet in November 2019, it has been steadily growing for the last 3 years, and the inflow of new users who enjoy music has increased rapidly thanks to the non-face-to-face trend during the COVID-19 pandemic.
Headquartered in Switzerland as a global Web 3.0 venture capital, DWF Labs, which established its 5th branch in Korea following Singapore, Dubai, and the Virgin Islands, has been supporting global expansion by providing investment and advice on promising Web 3.0 projects. DWF Labs also provides early-stage investment, secondary market investment, and OTC trading services for Web3 companies, along with advisory services for listing on global exchanges.
Kim Heui Bae, CEO of SOMESING, said, “We are very pleased to attract investment and signed a strategic partnership with DWF Labs, which is building a broad global network in the blockchain industry as well as in the web3 sector”.
“Based on strategic cooperation with DWF Labs in the future, we will make active efforts to list SSX on additional overseas global exchanges and establish a more interesting SOMESING’s web 3.0 environment such as NFT and Metaverse” he added.
Harvey Kim, head of Korea at DWF Labs, who led the investment, said, “We are happy to invest in SOMESING, which has real users and continues to operate services for the Web 3.0 ecosystem. DWF Labs plans to provide support for global projects that want to create the future of Web3”. He also said, “Starting with this investment, we will actively support SOMESING so that it can achieve global expansion to build a Singverse that connects everyone via music.”
Meanwhile, SOMESING completed the update on November 25 to allow withdrawals to the existing Klip wallets as well as withdrawals to Neopin wallets for SSX tokens acquired as rewards for content creation activities. As a result, SOMESING’s global users will also be able to withdraw SSX through the KYC process provided by Neopin, therefore, SOMESING’s additional global user attraction is expected to gain great momentum.