SOMESING, a blockchain-based social music service application, announced on Feb. 15 that it has signed a strategic alliance with Keypair, a renowned Korean developer of electronic wallet for cryptocurrencies.
“SOMESING's vision is to build a service that allows singing to be part of users' everyday life, by combining a traditional Karaoke app model with blockchain technology,” said Kim Heui-bae, CEO of the Korean startup. “The two companies' strategic alliance is a meaningful step as Keypair’s ‘Key Wallet Touch’ will expand the usability of cryptocurrencies in various offline environments.”
Kim also stressed, "Through Keypair, SOMESING has finally taken its cryptocurrency into an environment where it can directly be used in the real world.”
He also said that the timing of the strategic partnership is good as it will bring a positive change in the public's perception of cryptocurrencies.
Key Wallet Touch is a cold wallet developed by Keypair to allow users to use cryptocurrencies on mobile devices such as smartphones using Near Field Communication (NFC). Keypair has increased its accessibility with “Key Wallet Reader” that supports payment in the PC environment.
"SOMESING is a sought-after alliance partner as it accelerates the development of real-world blockchain applications in the cryptocurrency market where such services are still rare,” said Kevin Changkeun Lee, CEO and founder of Keypair. “We intend to lead the real-use business in the future that applies cryptocurrencies such as SOMESING to the real world, by expanding the usage of the Keypair Product Group."
"The strategic partnership between SOMESING and Key Wallet announces the start of actual services of decentralized applications (DApps) on the ICON Network," said Oh Hyun, CEO of Deblock.
SOMESING, a DApp on the ICON Netowrk, has developed an ecosystem with a new service format that enhances its functionality as a blockchain-based social music network service by adding value to the content of songs that users sing.
SOMESING's beta service is expected to be available to the public for testing in the first quarter of 2019.