- The Foundation will select quality project and provide support through Umbrella, its own ICO-issuing platform
- Selected GiniCasting’s ‘Ginicon’, which entered sole distributor agreement in seven countries
June 12, 2019–YAP CHAIN, a blockchain-based smart city-building project, selected GiniCasting‘s “Ginicon” as the first project of its own ICO platform, Umbrella.
YAP CHAIN’s Umbrella ICO is conducted through YAP STONE (YAP STONE), which is published by YAP CHAIN, by selecting quality companies with users, infrastructure (interface) or good service. Issuing companies will issue tokens in line with YAP TOKEN standards based on YAP CHAIN network, and carry out ICOs with support for technologies, ecosystems, funding and listing through YAP CHAIN.
According to YAP CHAIN, Genicon`s large-scale users played a major role in getting Genicon selected as the first Umbrella ICO project. It will provide an opportunity for many users to purchase YAP STONE and Ginicon. “Second and third Umbrella ICO companies that have large user or market infrastructure are pending. We’re going to open one by one to build an ecosystem of YAP CHAIN and secure the value of YAP STONE.”
Genie Casting is an audition system that allows anyone to take part in video recordings of their talents, such as singing and dancing, at some 500 self-audition booths to be set up in a total of seven countries in Southeast Asia as well as Korea. The Genie Casting Audition Booth is currently installed in places like CGV(local cinema chain), Megabox(local cinema chain), Korea’s young culture place Hongdae and major streets that young generation gathers, and people will be able to participate in the audition by uploading videos produced under their consent.
Genie Casting recently entered sole distributor agreement with Mexico’s Adstra Entertainment regarding exporting Genie Casting’s platform to eight countries including Mexico, Argentina, Colombia, Costa Rica, Guatemala, Panama, Chile, and Peru. GiniCasting also expressed the desire to adopt YAP CHAIN into GenieCasting’s GenieCon. YAP CHAIN is rapidly expanding together with Van and credit card issuers, which can replace the legal currency.
Park Sung-jin, CEO of Genie Holdings, said, “We have chosen cryptocurrency as our payment method in supporting the global audition application. The fandom of many stars in the future will likely be able to be taken around cryptocurrency. We will also carry out our business in conjunction with famous TV audition programs at home and abroad, it said.
The YAP CHAIN Foundation is issuing YAP STONE, the flagship currency of smart city, through YAP CHAIN. YAP CHAIN can be the operating system of a smart city. Through issuing YAP TOKEN, it is going to create an ecosystem where companies that have users, infrastructure, and services can participate and create exchange value of YAP STONE.
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