SEOUL, Korea, April 27, 2022 (World NEWSWIRE) — Konnect, a job centered in Seoul, Korea that offers a cryptocurrency-centered membership support, is applying blockchain to create new move within just the stagnant responsibility-free distribution industry. The duty-totally free distribution marketplace incorporates small business designs that combine tourism, shopping, expert services, and enjoyment in just several duty-no cost stores. This field has grown explosively in latest decades. However, the modern COVID-19 pandemic has caused a contraction in the obligation-cost-free sector, primary to its recent stagnancy.
In terms of market place share in the responsibility-free of charge distribution, Korea was the most productive place, starting to be identified as a obligation-free powerhouse soon after earning in excess of $25 million in transaction revenue in 2019 on your own. To break by way of this stagnant period in this marketplace, Konnect is building progressive breakthroughs amid speedily altering market conditions by integrating the cryptocurrency industry into the market place of the real environment.
“The rationale that the responsibility-no cost industry in Korea is continuing to increase is because of to the actuality that responsibility-totally free stores are relocating absent from offering common responsibility-no cost products and solutions to travelers. The industry has begun to supply pop-society content material, this kind of as K-pop concerts, to create a market place that combines tourism and leisure. At Konnect, we will proceed to pioneer a new sector that can incorporate the cryptocurrency populace with the current responsibility-absolutely free consumers based mostly on a powerful membership that delivers simple advantages,” mentioned Mark Jung (CTO), a spokesperson for Konnect.
With the aid of key associates and good infrastructure in Korea, Konnect has generated substantial volume in quantity so much. The undertaking is modifying the match by utilizing the existing B2B obligation-cost-free product distribution community to streamline the e-commerce course of action with the support of blockchain technological know-how. All buys and receipts are recorded, and a non-fungible token is issued to the purchaser to validate authenticity and acts as a logistics course of action file for the vendor. Konnect’s membership involves self-issued tokens, called KCT, and provides remarkable membership benefits in the existing crypto industry this kind of as NFTs, collectibles, and character skins that make a desire to invest and gather.
In the meantime, Konnect is doing work challenging to safe an ecosystem and partnerships with enterprises in the serious-entire world. Konnect is focusing on the obligation-no cost sector these types of as tourism, shopping, clinical treatment, leisure, and elegance in Korea. Konnect, which has now secured many companions in the fields of culture and art, plans to aim on buying these partnerships all through the remaining a few quarters of 2022.
For more information and facts about Konnect, go to www.konnect.finance/en.
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Brand name: Konnect
Contact: Serena Yun, COO