Blockchain-based karaoke dApp SOMESING announced on Nov. 28 its listing on Dcoin Exchange, a global cryptocurrency exchange platform with which it has signed an MOU on strategic cooperation for global expansion. SOMESING will be listed on Dcoin on Dec. 5.
Dcoin Exchange, established in Switzerland, ranks among the global top 20 in terms of cryptocurrency trading volume. Dcoin has promoted a number of promising Korean projects to global investors and has drawn attention for its membership-friendly community operations.
SOMESING is the world’s first blockchain-based karaoke service that aims to grow as a “social music network” where anyone who loves songs can enjoy singing free of charge. The songs sung by users become new content on the platform, and the more popular the song becomes, the more profits users gain. To this end, the company has resolved copyright issues in advance before incorporating blockchain into its business model.
SOMESING has received attention as a potential “killer dApp” as it attained daily 20,000 transactions and 6,000 daily active users on the first day of official launch on Nov. 19.
“Through partnerships with various broadcasting stations and entertainment labels, SOMESING aims to diversify the music market by providing users with opportunities to advance their participation in the music industry,” said Kim Heui-bae, the company’s CEO. Kim received the “Culture Content Industry Award” at the 27th Korea Cultural Entertainment Awards held on Nov. 29. He said SOMESING will lead to changes in the digital ecosystem of mobile content and music sources.
Seo Jae-won, CEO of Dcoin Korea, said, “SOMESING is a future-oriented application that connects the existing services and utility of blockchain technology. We expect our credibility as a global exchange to help SOMESING enter the global market.” He also urged the government to actively support projects that are immediately available for service.